Md. Code, Insurance § 24-203
This is the official text of Md. Code, Insurance § 24-203, part of Maryland’s Code, Insurance — regulates insurance companies and the policies they sell.
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§24–203.
Official statutory text
(a) (1) There is a Medical Mutual Liability Insurance Society of Maryland.
(2) The Society is a nonstock corporation.
(b) Except as otherwise provided in this subtitle, the Society has the powers, privileges, and immunities granted by and is subject to the provisions imposed on mutual insurers by this article and by the applicable provisions of the Corporations and Associations Article.
(c) The Society is a member of the Joint Insurance Association and the Property and Casualty Insurance Guaranty Corporation.
(d) (1) The Society is not and may not be deemed a department, unit, agency, or instrumentality of the State for any purpose.
(2) All debts, claims, obligations, and liabilities of the Society, whenever incurred, shall be the debts, claims, obligations, and liabilities of the Society only and not of the State or the State’s agencies, instrumentalities, officers, or employees.
(e) (1) The money of the Society is not part of the General Fund of the State.
(2) The State may not budget for or provide General Fund appropriations to the Society.
(3) The debts, claims, obligations, and liabilities of the Society are not a debt of the State or a pledge of the credit of the State.
(2) The Society is a nonstock corporation.
(b) Except as otherwise provided in this subtitle, the Society has the powers, privileges, and immunities granted by and is subject to the provisions imposed on mutual insurers by this article and by the applicable provisions of the Corporations and Associations Article.
(c) The Society is a member of the Joint Insurance Association and the Property and Casualty Insurance Guaranty Corporation.
(d) (1) The Society is not and may not be deemed a department, unit, agency, or instrumentality of the State for any purpose.
(2) All debts, claims, obligations, and liabilities of the Society, whenever incurred, shall be the debts, claims, obligations, and liabilities of the Society only and not of the State or the State’s agencies, instrumentalities, officers, or employees.
(e) (1) The money of the Society is not part of the General Fund of the State.
(2) The State may not budget for or provide General Fund appropriations to the Society.
(3) The debts, claims, obligations, and liabilities of the Society are not a debt of the State or a pledge of the credit of the State.
Status: in_force · Read it on the official government site
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