The Honorable Casper R. Taylor, Jr.
Speaker of the House
State House
Annapolis MD 21401

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed House Bill 919.

This bill provides that the Insurance Commissioner may establish by regulation limits on the risk retained by an insurer for financial guaranty insurance, including requirements for contingency reserves used in determining compliance with the established limits.

Senate Bill 679, which was passed by the General Assembly and signed by me on May 27, 1999, accomplishes the same purpose. Therefore, it is not necessary for me to sign House Bill 919.

Parris N. Glendening