The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
Annapolis MD 21401
Dear Mr. President:
In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed Senate Bill 46 - Insurance - Risk Based Capital Standards for Insurers - Exemption.
This bill authorizes the Maryland Insurance Commissioner to exempt from the risk based capital standards a domestic health insurer if the insurer is a nonprofit dental services coverage provider or a dental plan organization that: (1) writes direct business only in Maryland, assumes no reinsurance exceeding 5% of direct premiums written, and writes direct annual premiums for comprehensive medical business of $2,000,000 or less; or (2) covers fewer than 2,000 lives.
House Bill 153, which was passed by the General Assembly and signed by me, accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate Bill 46.
Parris N. Glendening