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BOARD v. LIFE & HEALTH INS.

No. 110, September Term, 1993.

335 Md. 176 (1994)

642 A.2d 856

BOARD OF TRUSTEES OF THE MARYLAND TEACHERS & STATE EMPLOYEES SUPPLEMENTAL RETIREMENT PLANS v. LIFE AND HEALTH INSURANCE GUARANTY CORPORATION.

Court of Appeals of Maryland.

June 10, 1994.

Attorney(s) appearing for the Case

Diane Krejsa, Asst. Atty. Gen., Baltimore (J. Joseph Curran, Jr., Atty. Gen., Baltimore, John K. Barry, Asst. Atty. Gen., Annapolis, all on brief), for petitioner.

George A. Nilson (Joan E. Quigley, Piper & Marbury, all on brief), Baltimore, for respondent.

William Carlisle Herbert, Stephen L. Humphrey, William T. Casey, Hopkins & Sutter, all on brief, Washington, DC, amicus curiae, for National Ass'n of Life and Health Ins. Guar. Associations (respondent).

Kevin A. Dunne, Ober, Kaler, Grimes & Shriver, Baltimore, Larry W. Gabriel, Iain A.W. Nasatir, Pachulski, Stang, Ziehl & Young, P.C., Los Angeles, CA, all on brief, amicus curiae, for Group Annuity Participant Protection Ass'n (petitioner).

Argued before MURPHY, C.J., RODOWSKY, CHASANOW, KARWACKI, BELL and RAKER, JJ., and CHARLES E. ORTH, Jr., Judge of the Court of Appeals (retired) Specially Assigned.

RODOWSKY, Judge.

The question presented here is whether two guaranteed investment contracts (GICs) issued to the Board of Trustees of the Maryland Teachers and State Employees Supplemental Retirement Plans (the Board) by Executive Life Insurance Company (ELIC) constituted "covered policies" under the Life and Health Insurance Guaranty Corporation Act, Maryland Code (1957, 1994 Repl.Vol.), Art. 48A, §§ 520 through 537 (the Guaranty Act). The answer to the...

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