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§ 25-304. Self-insurance group requirements

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 25. Alternative Market Mechanisms
Subtitle 3. Group Self-Insurance for Workers' Compensation (Refs & Annos)
MD Code, Insurance, § 25-304
§ 25-304. Self-insurance group requirements
Currentness
In general
(a) Before a self-insurance group may operate, the self-insurance group must obtain the approval of the Commissioner, including approval of its self-insurance agreement.
Net combined assets
(b) Each self-insurance group must have combined net assets of at least $1,000,000.
Duty of group to pay all workers’ compensation benefits incurred by members
(c)(1) A self-insurance group shall pay all workers' compensation benefits for which each member incurs liability during its period of membership.
(2) Each member of a self-insurance group is jointly and severally liable for the workers' compensation obligations of the group and its members that are incurred during its period of membership.
(3) A member who elects to terminate its membership in or is canceled by a group remains jointly and severally liable for workers' compensation obligations of the group and its members which were incurred during the canceled or terminated member's period of membership.
(4) The insolvency or bankruptcy of a member does not relieve the self-insurance group or any other member of liability for the payment of workers' compensation benefits incurred during the insolvent or bankrupt member's period of membership.

Credits

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997. Amended by Acts 1996, c. 527, § 2, eff. Oct. 1, 1997; Acts 2001, c. 426, § 1, eff. Oct. 1, 2001.
Formerly Art. 48A, § 609.
MD Code, Insurance, § 25-304, MD INSURANCE § 25-304
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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