PARRIS N. GLENDENING, Governor

Ch. 35

FORMS, AND OTHER FILINGS EXISTING AT THE TIME OF THE CONVERSION SHALL
CONTINUE IN EFFECT AFTER THE CONVERSION.

(F) EFFECT ON OUTSTANDING CONTRACTS.

ALL OUTSTANDING CONTRACTS OF THE CONVERTING CORPORATION SHALL
REMAIN IN EFFECT AND NEED NOT OTHERWISE BE ENDORSED UNLESS ORDERED
BY THE COMMISSIONER.

(G) HEARING.

THE COMMISSIONER OR DESIGNEE OF THE COMMISSIONER MAY CONDUCT A
HEARING ON THE PROPOSED CONVERSION OF A CORPORATION SUBJECT TO THIS
SUBTITLE INTO A FOR-PROFIT STOCK HEALTH INSURER.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 356AA(a)(2) through (g).

As to the substitution of the reference to a corporation "authorized" under
this subtitle for the former reference to a corporation "licensed" under this
subtitle in subsection (a) of this section, see the General Revisor's Note to this
subtitle.

In subsection (c)(1) of this section, the word "subscribers" is substituted for
the former word "enrollees" for accuracy and consistency with terminology
used elsewhere in this subtitle.

In subsection (d) of this section, the reference to a for-profit "stock health"
insurer is added for consistency within this section.

In subsection (g) of this section, the reference to a "designee of the
Commissioner" is added for accuracy and consistency with § 14-132(g) of this
subtitle.

Defined terms: "Agent" § 1-101
"Appointment" § 1-101
"Certificate of authority" § 1-101
"Commissioner" § 1-101
"Health insurer" § 14-130

14-132. CONVERSION TO MUTUAL HEALTH INSURER.

(A) SCOPE OF SECTION.

THIS SECTION DOES NOT APPLY TO THE CONVERSION OF A CORPORATION
AUTHORIZED UNDER THIS SUBTITLE TO A MUTUAL HEALTH INSURER UNDER A
COURT ORDER IN CONNECTION WITH THE REHABILITATION OR REORGANIZATION
OF THE CORPORATION UNDER TITLE 9, SUBTITLE 2 OF THIS ARTICLE.

(B) AUTHORIZED.

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