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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.
(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.
(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.
(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.


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.
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