§ 10-472. Definitions

MD Human Svs Code § 10-472 (2019) (N/A)
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(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.