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§ 16-116. Purchase of life insurance or self-insurance by public entities

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 16. Life Insurance and Annuities
Subtitle 1. General Provisions (Refs & Annos)
MD Code, Insurance, § 16-116
§ 16-116. Purchase of life insurance or self-insurance by public entities
Public entity defined
(a) In this section, “public entity” means:
(1) a political subdivision of the State;
(2) a unit of the State or a local government; or
(3) a nonprofit or nonstock corporation that:
(i) receives 50% or more of its annual operating budget from the State or a local government; and
(ii) is exempt from taxation under § 501(c)(3) or (4) of the Internal Revenue Code.
Purchase of life insurance or self-insurance
(b) Public entities may pool together to purchase life insurance or to self-insure against life risks.

Credits

Added by Acts 1998, c. 346, § 1, eff. Oct. 1, 1998; Acts 1998, c. 347, § 1, eff. Oct. 1, 1998.
MD Code, Insurance, § 16-116, MD INSURANCE § 16-116
Current through all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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