ROBERT L. EHRLICH, JR., Governor                             Ch. 464

(2)     Paragraph (1) of this subsection does not apply to:

(i) An alternate payee under a qualified domestic relations order,
as defined in § 414(p) of the United States Internal Revenue Code of 1986, as
amended;

(ii) A retirement plan, qualified under § 401(a) of the United States
Internal Revenue Code of 1986, as amended, as a creditor of an individual retirement
account qualified under § 408 of the United States Internal Revenue Code of 1986, as
amended; or

(iii) The assets of a bankruptcy case filed before January 1, 1988.

(3)     The interest of an alternate payee in a plan described in subsection
(h)(1) of this section shall be exempt from any and all claims of any creditor of the
alternate payee, except claims by the Department of Health and Mental Hygiene.

(4)     If a contribution to a retirement plan described under paragraph (1)
of this subsection exceeds the amount deductible or, in the case of contribution under
§ 408A of the Internal Revenue Code, the maximum contribution allowed under the
applicable provisions of the United States Internal Revenue Code of 1986, as
amended, the portion of that contribution that exceeds the amount deductible or, in
the case of contribution under § 408A of the Internal Revenue Code, the maximum
contribution allowed, and any accrued earnings on such a portion, are not exempt
under paragraph (1) of this subsection.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall apply to
any judgment entered or bankruptcy proceeding filed on or after the effective date of
this Act.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take
effect October 1, 2004.

Approved May 26, 2004.

CHAPTER 464
(Senate Bill 533)

AN ACT concerning

Homeowner's Insurance - Cancellation

FOR the purpose of authorizing an insurer to cancel a certain policy of homeowner's
insurance under certain circumstances; and generally relating to the
cancellation of a policy of homeowner's insurance.

BY repealing and reenacting, with amendments,
Article - Insurance
Section 27-501(d)

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