§ 24-205. Administration of Society by licensed insurer
West's Annotated Code of MarylandInsurance
MD Code, Insurance, § 24-205
§ 24-205. Administration of Society by licensed insurer
(a)(1) If the Board of Directors determines that the affairs of the Society may be administered suitably and efficiently, the Society may enter into a contract with a licensed insurer or licensed nonprofit health service plan to administer the affairs of the Society, subject to the continuing direction of the Board of Directors specified in the articles of incorporation and bylaws of the Society and the contract.
(b)(1) On execution of the contract, the Society promptly shall file a true copy of the contract with the Commissioner.
Credits
Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 556.
MD Code, Insurance, § 24-205, MD INSURANCE § 24-205
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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