Section 3-204 - Insurance, guarantees, and other credit enhancements.
§ 3-204. Insurance, guarantees, and other credit enhancements.
Insurance, a guarantee, or other credit enhancement provided under this subtitle:
(1) does not pledge the faith, credit, or taxing power of the State or the Department; and
(2) is payable only to the extent of the reserve or other identified money backing the insurance, guarantee, or credit enhancement.
[An. Code 1957, art. 83B, § 3-206(e); 2005, ch. 26, § 2.]