Current with changes from the 2024 Legislative Session
Section 10-472 - Definitions(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.