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VETOES
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H.B. 980
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May 18, 2000
The Honorable Casper R. Taylor, Jr.
Speaker of the House
State House
Annapolis MD 21401
Dear Mr. Speaker:
In accordance with Article II, Section 17 of the Maryland Constitution, I have today
vetoed House Bill 980 - Injured Workers' Insurance Fund - Regulation.
This bill requires the Injured Workers' Insurance Fund (IWIF) to become a member of
the Property and Casualty Insurance Guarantee Corporation following an
examination by the Maryland Insurance Administration. The bill also increases the
number of IWIF board members from seven to nine and specifies that a member may
only serve two terms. In addition, the bill makes IWIF subject to periodic examination
in specified areas by the Administration.
Senate Bill 881, which was passed by the General Assembly and will be signed by me
on May 18, 2000, accomplishes the same purpose. Therefore, it is not necessary for me
to sign House Bill 980.
Sincerely,
Parris N. Glendening
Governor
House Bill No. 980
AN ACT concerning
Injured Workers' Insurance Fund - Regulation
FOR the purpose of requiring the Injured Workers' Insurance Fund (Fund) to be a
member of the Property and Casualty Insurance Guaranty Corporation;
increasing the number of members on the Board for the Fund; increasing the
number of Board members that must concur for the Board to act; prohibiting a
member from serving more than two terms under certain circumstances;
repealing the requirement that the board appoint an executive vice president;
increasing the number of members on the Board for the Fund; increasing the
number of Board members that must concur for the Board to act; repealing
certain provisions a certain provision that subject subjects the Fund to certain
laws; repealing the requirement that the State Treasurer is the custodian of the
Fund; repealing the requirement that the State Treasurer keep the Fund
separate from State money; repealing the requirement that the State Treasurer
disburse money from the Fund in a certain manner; repealing certain
requirements relating to the State Treasurer and Fund investments; repealing
the requirement that the Legislative Auditor conduct a fiscal audit of the Fund,
a compliance audit of the Fund, a statutory audit of the Fund, and a market
conduct survey of the Fund; repealing the requirement that the Fund pay for the
fiscal portion of the postaudit examination, the market conduct survey, and the
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