PARRIS N. GLENDENING, Governor

Ch. 35

(II) $1,500,000 FOR TWO OR MORE KINDS OF INSURANCE BUSINESS;

AND

(2) COMPLY WITH THE DEPOSIT REQUIREMENTS OF § 4-106 OF THIS

ARTICLE.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 282.

In subsections (b)(1) and (2) and (c)(l)(i) and (ii) of this section, the
references to insurance "business" are added for consistency with subsection
(a) of this section and to conform to language used to describe capital and
surplus requirements for insurers in Title 4, Subtitle 1 of this article.

Defined terms: "Insurance business" § 1-101
"Policy" § 1-101
"Reciprocal insurer" § 1-101

3-204. ORGANIZATION AND APPLICATION FOR CERTIFICATE OF AUTHORITY.

(A) IN GENERAL.

TWENTY-FIVE OR MORE PERSONS DOMICILED IN THE STATE MAY ORGANIZE A
DOMESTIC RECIPROCAL INSURER AND MAY APPLY TO THE COMMISSIONER FOR A
CERTIFICATE OF AUTHORITY TO ENGAGE IN THE INSURANCE BUSINESS AS A
RECIPROCAL INSURER.

(B) DECLARATION REQUIRED.

THE PROPOSED ATTORNEY IN FACT OF THE RECIPROCAL INSURER SHALL
FULFILL THE REQUIREMENTS OF AND SHALL EXECUTE, VERIFY UNDER OATH, AND
FILE WITH THE COMMISSIONER WHEN APPLYING FOR A CERTIFICATE OF
AUTHORITY, A DECLARATION THAT INCLUDES:

(1) THE NAME OF THE RECIPROCAL INSURER;

(2) THE LOCATION OF THE RECIPROCAL INSURER'S PRINCIPAL OFFICE
AND OF ANY OTHER OFFICE FROM WHICH POLICIES WILL BE ISSUED;

(3) EACH KIND OF INSURANCE BUSINESS IN WHICH THE RECIPROCAL
INSURER INTENDS TO ENGAGE;

(4) THE APPOINTMENT OF THE COMMISSIONER AS AGENT FOR SERVICE
OF PROCESS IN ACCORDANCE WITH § 4-107 OF THIS ARTICLE;

(5) THE NAME AND ADDRESS OF EACH ORIGINAL SUBSCRIBER;

(6) THE APPOINTMENT OF THE PROPOSED ATTORNEY IN FACT AND A
COPY OF THE POWER OF ATTORNEY;

(7) THE NAME AND ADDRESS OF EACH OFFICER AND EACH DIRECTOR
OF THE ATTORNEY IN FACT, IF THE ATTORNEY IN FACT IS A CORPORATION, OR OF
EACH MEMBER OF THE ATTORNEY IN FACT, IF THE ATTORNEY IN FACT IS A FIRM;

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