Home Table of Contents

§ 25-305. Self-Insurers' Guaranty Fund

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, § 25-305
§ 25-305. Self-Insurers' Guaranty Fund
Currentness
Group not liable for payments to Property and Casualty Insurance Guaranty Corporation
(a) A self-insurance group is not liable for payments to the Property and Casualty Insurance Guaranty Corporation.
In general
(b) There is a Self-Insurers' Guaranty Fund.
Administration of Fund
(c) The Uninsured Employers' Fund established under § 10-304 of the Labor and Employment Article shall administer the Self-Insurers' Guaranty Fund.
Assessments paid into Self-Insurer’s Guaranty Fund
(d) Each self-insurance group shall pay an assessment into the Self-Insurers' Guaranty Fund at the same level assessed against other workers' compensation insurers by the Property and Casualty Insurance Guaranty Corporation under Title 9, Subtitle 3 of this article.
Self-insurance groups that become insolvent
(e)(1) The Self-Insurers' Guaranty Fund shall pay any outstanding obligations of a self-insurance group that becomes insolvent.
(2) If the Self-Insurers' Guaranty Fund becomes insolvent, any outstanding obligations of an insolvent self-insurance group are a joint and several liability of each member of the self-insurance group.

Credits

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, §§ 608, 609.
MD Code, Insurance, § 25-305, MD INSURANCE § 25-305
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.
End of Document