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§ 8-405. Societies organized and authorized under subtitle deemed charitable and benevolent ins...

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 8. Entities that Act as Insurers
Subtitle 4. Fraternal Benefit Societies (Refs & Annos)
Part I. Definitions; General Provisions
MD Code, Insurance, § 8-405
§ 8-405. Societies organized and authorized under subtitle deemed charitable and benevolent institutions
Currentness
In general
(a) A society organized or authorized to transact business under this subtitle is deemed to be a charitable and benevolent institution.
Tax exemptions
(b) The funds of a society organized or authorized to transact business under this subtitle are exempt from all taxes, except taxes on real estate and office equipment.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 344.
MD Code, Insurance, § 8-405, MD INSURANCE § 8-405
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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