§ 10-472

Maryland § 10-472

• Jurisdiction: Maryland
• Article ghu: Human Services
• Title: 10

Text

(a) In this part the following words have the meanings indicated.

(b) “Creditor” means a person with a claim against a provider.

(c) “Delinquency proceeding” means a proceeding under this subtitle to liquidate, rehabilitate, reorganize, or conserve a provider.

(d) “General assets” means:

(1) all property that is not specifically mortgaged, pledged, deposited, or otherwise encumbered for the security or benefit of specified persons or a limited class of persons;

(2) to the extent that property of a provider is specifically encumbered, the amount of the property or its proceeds that exceeds the amount necessary to discharge the encumbrance; and

(3) assets held in trust and assets held on deposit for the security or benefit of all subscribers and creditors in the United States.

(e) “Receiver” includes a conservator, rehabilitator, and liquidator.

(f) (1) “Secured claim” means a claim that:

(i) is secured by mortgage, trust deed, pledge, deposit as security, escrow, or otherwise; or

(ii) has become a lien on specific assets through judicial process.

(2) “Secured claim” does not include a special deposit claim or a claim against general assets.

(g) (1) “Special deposit claim” means a claim secured by a deposit required by law for the security or benefit of a limited class of persons.

(2) “Special deposit claim” does not include a claim against general assets.

(h) “Transfer” means:

(1) the sale or other direct or indirect disposition of property or an interest in property;

(2) the fixing of a lien on property or an interest in property; or

(3) the retention of a security title to property delivered to a debtor.