The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
State House
Annapolis MD 21401

Dear Mr. President:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed Senate Bill 148 - Mutual Insurance Holding Company Act.

This bill authorizes a mutual insurer to reorganize as a stock insurer and to establish a mutual insurance holding company to hold the capital stock of the reorganized stock insurer.

House Bill 119, which was passed by the General Assembly and signed by me on April 25, 2000, accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate Bill 148.

Parris N. Glendening