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§ 15-1220. Management and investment of Pool moneys

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 15. Health Insurance
Subtitle 12. Maryland Health Insurance Reform Act (Refs & Annos)
MD Code, Insurance, § 15-1220
§ 15-1220. Management and investment of Pool moneys
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.
Operating expenses
(b) All operating expenses of the Pool shall be paid from funds collected by or on behalf of the Pool.
Nature of account of 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.
Pool not eligible for General Fund appropriations
(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.
Tax exempt status of Pool
(f) The Pool is exempt from:
(1) taxation by the State and local government;
(2) the general procurement law provisions of Division II of the State Finance and Procurement Article; and
(3) Division I of the State Personnel and Pensions Article.

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 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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