May 22, 2003
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, today I have vetoed Senate Bill 600 - Life Insurers - Board of Directors - Investments Practices This bill repeals a provision of law related to investment and loan practices of life insurers; requires the board of directors of a life insurer to adopt a specified plan for acquiring and holding investments and engaging in investment practices; and requires the plan to specify guidelines related to the investment and financial needs of a life insurer.
House Bill 1037, 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 600.
Robert L. Ehrlich, Jr.