§ 15-1220. Management and investment of Pool moneys
West's Annotated Code of MarylandInsurance
MD Code, Insurance, § 15-1220
§ 15-1220. Management and investment of Pool moneys
(a) The Pool shall manage and invest all money collected by or on behalf of the Pool through premium charges, assessments, earnings from investments, or otherwise, through a financial management committee composed of the Executive Director and two members of the Board.
(b) All operating expenses of the Pool shall be paid from funds collected by or on behalf of the Pool.
(c) The account of the Pool is a special fund account and the money in the account is not part of the General Fund of the State.
(d) The State may not provide General Fund appropriations to the Pool and the obligations of the Pool are not a debt of the State or a pledge of the credit of the State.
Debts, claims, obligations, or liabilities of Pool not debts, claims, obligations, or liabilities of State
(e) All debts, claims, obligations, and liabilities of the Pool, whenever incurred, shall be the debts, claims, obligations, and liabilities of the Pool only and not of the State or the State's agencies, instrumentalities, officers, or employees.
Credits
Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997.
Formerly Art. 48A, § 710.
MD Code, Insurance, § 15-1220, MD INSURANCE § 15-1220
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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