Ch. 106

2003 LAWS OF MARYLAND

(1)     For a first offense, a fine of not more than $1,000, or imprisonment
for not more than 1 year, or both; and

(2)     For any subsequent offense, a fine of not more than $1,000, or
imprisonment for not more than 2 years, or both.

(i) Any person who is convicted of a violation of any of the provisions of §
15-402 of this article ("Vehicle salesman's license required") or § 15-502(a) of this
article ("Automotive dismantler and recycler or scrap processor — License required")
is subject to:

(1)     For a first offense, a fine of not more than $1,000 or imprisonment for
not more than 6 months or both; and

(2)     For any subsequent offense, a fine of not more than $2,000 or
imprisonment for not more than 1 year or both.

Chapter 505 of the Acts of 2000

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect October 1, 2000. [It shall remain effective for a period of 3 years and, at the end
of September 30, 2003, with no further action required by the General Assembly, this
Act shall be abrogated and of no further force and effect.]

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect October 1, 2003.

Approved April 22, 2003.

CHAPTER 106
(Senate Bill 601)

AN ACT concerning

Life Insurance - Separate Investment Accounts - Asset Holding

Requirements

FOR the purpose of requiring certain life insurers that offer certain investment
accounts to hold assets that equal or exceed certain reserve requirements;
requiring that assets held for certain investment accounts be valued in
accordance with certain provisions of law; and generally relating to asset
holding requirements for separate investment accounts that provide a fixed
guaranteed return that is not subject to market value adjustment.

BY repealing and reenacting, with amendments,
Article - Insurance
Section 5-512(k)
Annotated Code of Maryland
(1997 Volume and 2002 Supplement)

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