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Ch. 102
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PARRIS N. GLENDENING, Governor
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(L) (1) A MUTUAL INSURANCE HOLDING COMPANY:
(I) MAY NOT DISSOLVE OR LIQUIDATE EXCEPT THROUGH
PROCEEDINGS UNDER TITLE 9 OF THIS ARTICLE; AND
(II) SHALL BE A PARTY TO ANY PROCEEDING UNDER TITLE 9 OF
THIS ARTICLE INVOLVING A REORGANIZED STOCK INSURER THAT IS A SUBSIDIARY
OF THE MUTUAL INSURANCE HOLDING COMPANY.
(2) IN ANY PROCEEDING UNDER TITLE 9 INVOLVING A REORGANIZED
STOCK INSURER THAT IS A SUBSIDIARY OF A MUTUAL INSURANCE HOLDING
COMPANY, THE ASSETS OF THE MUTUAL INSURANCE HOLDING COMPANY SHALL BE
DEEMED TO BE ASSETS OF THE ESTATE OF THE REORGANIZED STOCK INSURER FOR
PURPOSES OF SATISFYING THE CLAIMS OF THE REORGANIZED STOCK INSURER'S
POLICYHOLDERS.
(M) A MUTUAL INSURANCE HOLDING COMPANY MAY BECOME A STOCK
INSURER IN ACCORDANCE WITH § 3-121 OF THIS TITLE.
(N) THE COMMISSIONER MAY ADOPT REGULATIONS TO ENFORCE THIS
SECTION.
7-103.
(a) Except as otherwise specifically provided, the provisions of this title are
intended to apply to authorized insurers.
(b) The provisions of this title that apply to AN authorized [insurers and
domestic insurers] INSURER OR A DOMESTIC INSURER also apply to:
(I) A nonprofit health service [plans] PLAN licensed under Title
14, Subtitle 1 of this article; AND
(II) A MUTUAL INSURANCE HOLDING COMPANY FORMED UNDER §
3-121.1 OF THIS ARTICLE.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 2000.
Approved April 25, 2000.
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CHAPTER 102
(House Bill 135)
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AN ACT concerning
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Health - Sale or Possession of Methyl Methacrylate Liquid Monomer -
Prohibition
FOR the purpose of prohibiting a beauty supply outlet person from selling, offering for
sale, or possessing methyl methacrylate liquid monomer for certain uses to a
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- 715 -
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