Volume 801, Page 666 View pdf image |
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Ch. 162 2004 LAWS OF MARYLAND Annotated Code of Maryland BY repealing and reenacting, with amendments, SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF Article - Insurance 9-227. (a) In this section, "preferred claim" means a claim that is given priority of (b) (1) The first $500 of compensation or wages owed to an officer or (2) Subject to paragraph (3) of this subsection, the Commissioner may (3) At all times, the Commissioner shall reserve funds that the (4) The priority required under this subsection is instead of any other (c) Priority over all other claims in a liquidation proceeding, other than claims (1) claims by policyholders, beneficiaries, [or] insureds, OR HOLDERS OF (2) liability claims against insureds that are within the coverage of and (3) claims of: (i) the Property and Casualty Insurance Guaranty Corporation; - 666 -
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Volume 801, Page 666 View pdf image |
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