Section 10-472 - Definitions.
§ 10-472. Definitions.
(a) In general.- In this part the following words have the meanings indicated.
Revisor's Note.
This subsection is new language added as the standard introductory language to a definition section.
(b) Creditor.- "Creditor" means a person with a claim against a provider.
Revisor's Note.
This subsection formerly was Art. 70B, § 7(g).
In this subsection and throughout this part, the defined term "provider" is substituted for the former reference to a "continuing care provider" for consistency throughout this subtitle.
No other changes are made.
Defined Terms.
"Person" §§ 1-101, 10-401
"Provider" § 10-401
(c) Delinquency proceeding.- "Delinquency proceeding" means a proceeding under this subtitle to liquidate, rehabilitate, reorganize, or conserve a provider.
Revisor's Note.
This subsection formerly was Art. 70B, § 7(h).
The only changes are in style.
Defined Terms.
"Provider" § 10-401
(d) General assets.- "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.
Revisor's Note.
This subsection formerly was Art. 70B, § 7(o).
The only changes are in style.
Defined Terms.
"Creditor" § 10-472
"Person" §§ 1-101, 10-401
"Provider" § 10-401
"Subscriber" § 10-401
(e) Receiver.- "Receiver" includes a conservator, rehabilitator, and liquidator.
Revisor's Note.
This subsection formerly was Art. 70B, § 7(w).
No changes are made.
(f) Secured claim.-
(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.
Revisor's Note.
This subsection formerly was Art. 70B, § 7(z).
No changes are made.
Defined Terms.
"General assets" § 10-472
"Special deposit claim" § 10-472
(g) Special deposit claim.-
(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.
Revisor's Note.
This subsection formerly was Art. 70B, § 7(aa).
No changes are made.
Defined Terms.
"Deposit" § 10-401
"General assets" § 10-472
"Person" §§ 1-101, 10-401
(h) Transfer.- "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.
Revisor's Note.
This subsection is new language derived without substantive change from former Art. 70B, § 7(dd).
The former phrase "when used in conjunction with property in §§ 20A through 21 of this subtitle" is deleted as surplusage.
[An. Code 1957, art. 70B, § 7(g), (h), (o), (w), (z), (aa), (dd); 2007, ch. 3, § 2.]