Ch. 35

1997 LAWS OF MARYLAND

1-202. SCOPE OF ARTICLE.

THIS ARTICLE DOES NOT APPLY TO:

(1) A FRATERNAL BENEFIT SOCIETY, EXCEPT AS PROVIDED IN TITLE 8,
SUBTITLE 4 OF THIS ARTICLE;

(2) A NONPROFIT HEALTH SERVICE PLAN, EXCEPT AS OTHERWISE
PROVIDED IN THIS ARTICLE; OR

(3) AN ORGANIZATION THAT:

(I) IS ORGANIZED AND OPERATED AS A NONPROFIT
ORGANIZATION EXCLUSIVELY FOR THE PURPOSE OF HELPING NONPROFIT
EDUCATIONAL OR SCIENTIFIC INSTITUTIONS BY ISSUING ANNUITY CONTRACTS
ONLY TO OR FOR THE BENEFIT OF THOSE INSTITUTIONS OR INDIVIDUALS SERVING
THOSE INSTITUTIONS;

(II) IRREVOCABLY APPOINTS THE COMMISSIONER AS ATTORNEY
TO RECEIVE SERVICE OF PROCESS ISSUED AGAINST IT IN THE STATE SO AS TO BIND
THE ORGANIZATION AND ITS SUCCESSORS AND TO REMAIN IN EFFECT AS LONG AS
THERE IS IN FORCE IN THE STATE A CONTRACT OR OBLIGATION ARISING FROM IT;

(III) IS LEGALLY ORGANIZED AND QUALIFIED TO DO BUSINESS
AND HAS BEEN ACTIVELY DOING BUSINESS UNDER THE LAWS OF ITS STATE OF
DOMICILE FOR AT LEAST 10 YEARS BEFORE JULY 1, 1977;

(IV) FILES WITH THE COMMISSIONER A COPY OF ANY CONTRACT
FORM ISSUED TO RESIDENTS OF THIS STATE;

(V) FILES WITH THE COMMISSIONER ON OR BEFORE MARCH 1 OF

EACH YEAR:

1. A COPY OF ITS ANNUAL STATEMENT PREPARED UNDER
THE LAWS OF ITS STATE OF DOMICILE; AND

2. ANY OTHER FINANCIAL MATERIAL THAT THE
COMMISSIONER REQUESTS;

(VI) AGREES TO SUBMIT TO PERIODIC EXAMINATIONS AS THE
COMMISSIONER CONSIDERS NECESSARY; AND

(VII) PAYS THE PREMIUM TAX IMPOSED BY TITLE 6 OF THIS ARTICLE
ON ALL PREMIUMS ALLOCABLE TO THIS STATE FOR LIFE INSURANCE AND HEALTH
INSURANCE IN EFFECT FOR RESIDENTS OF THIS STATE; OR

(4) A VOLUNTARY NONCONTRACTUAL RELIGIOUS PUBLICATION
ARRANGEMENT THAT:

(I) IS A NONPROFIT RELIGIOUS ORGANIZATION FOR WHICH THE
STATE MAY NOT BE HELD IN ANY WAY LIABLE OR RESPONSIBLE FOR ANY OF ITS
DEBTS, CLAIMS, OBLIGATIONS, OR LIABILITIES;

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