The Honorable Casper R. Taylor, Jr.
Speaker of the House
Annapolis MD 21401
Dear Mr. Speaker:
In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed House Bill 1352 - Insurance - Insurer Insolvencies - Claims Priority.
This bill provides that in the event of an insurer insolvency where there are known or potential claims of the federal government, the priority of claims distribution is: (1) administrative expenses; (2) claims made by policyholders, beneficiaries, or insureds; liability claims against insureds; and guaranty fund claims; (3) federal government claims; (4) the first $500 of compensation or wages owed to an officer or employee of the insurer; (5) state or local tax claims; and (6) all other claims of general creditors.
Senate Bill 837, which was passed by the General Assembly and signed by me, accomplishes the same purpose. Therefore, it is not necessary for me to sign House Bill 1352.
Parris N. Glendening