May 26, 2004

The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
State House
Annapolis MD 21401

Dear Mr. President:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed Senate Bill 129 - Life Insurers - Funding Agreements - Priority in Liquidation Proceedings.

This bill states expressly the priority of specified claims made by holders of specified funding agreements in liquidation proceedings against specified insurers.

House Bill 231, which was passed by the General Assembly and signed by me on April 27, 2004, accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate Bill 129.

Very truly yours,
Robert L. Ehrlich, Jr.
Governor