provided in this Act. Any amount of the loan in excess of the amount of the matching
fund certified by the Board of Public Works shall be canceled and be of no further
effect.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 1999.

Approved May 27, 1999.

CHAPTER 578
(Senate Bill 578)

AN ACT concerning

Life Insurance and Annuities - Funding Pre-Need Contracts and Preneed

Burial Contracts

FOR the purpose of authorizing a pre-need contract or preneed burial contract to be
funded by a life insurance policy or annuity contract under certain
circumstances; exempting from certain provisions of insurance law life
insurance or an annuity used to fund a pre-need contract or preneed burial
contract; exempting certain pre-need contracts that are funded by a life
insurance policy or annuity contract from certain provisions of law; and
generally relating to pre-need contracts and preneed burial contracts funded by
life insurance and annuities.

BY adding to

Article — Business Regulation
Section 5-702(e)
Annotated Code of Maryland
(1998 Replacement Volume)

BY repealing and reenacting, with amendments,
Article - Health Occupations
Section 7-405(f)
Annotated Code of Maryland
(1994 Replacement Volume and 1998 Supplement)

BY repealing and reenacting, with amendments,
Article - Insurance
Section 27-211 and 27-218
Annotated Code of Maryland
(1997 Volume and 1998 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows: