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§ 10-472. Definitions

West's Annotated Code of MarylandHuman ServicesEffective: October 1, 2007

West's Annotated Code of Maryland
Human Services (Refs & Annos)
Title 10. Department of Aging (Refs & Annos)
Subtitle 4. Continuing Care (Refs & Annos)
Part VIII. Delinquency Proceedings (Refs & Annos)
Effective: October 1, 2007
MD Code, Human Services, § 10-472
§ 10-472. Definitions
In general
(a) In this part the following words have the meanings indicated.
Creditor
(b) “Creditor” means a person with a claim against a provider.
Delinquency proceeding
(c) “Delinquency proceeding” means a proceeding under this subtitle to liquidate, rehabilitate, reorganize, or conserve a provider.
General assets
(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.
Receiver
(e) “Receiver” includes a conservator, rehabilitator, and liquidator.
Secured claim
(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.
Special deposit claim
(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.
Transfer
(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.

Credits

Added by Acts 2007, c. 3, § 2, eff. Oct. 1, 2007.
MD Code, Human Services, § 10-472, MD HUMAN SERV § 10-472
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document