Home Table of Contents

§ 25-306. Termination of self-insurance agreements and merger of self-insurance groups

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, § 25-306
§ 25-306. Termination of self-insurance agreements and merger of self-insurance groups
Currentness
Request of group to terminate its self-insurance agreement
(a) The Commissioner may not grant the request of a self-insurance group to terminate its self-insurance agreement unless the self-insurance group has insured or reinsured all incurred workers' compensation obligations with an authorized insurer under an agreement filed with and approved in writing by the Commissioner.
Merger with another self-insurance group
(b)(1) Subject to the approval of the Commissioner, a self-insurance group may merge with another self-insurance group engaged in the same or similar type of business only if the resulting self-insurance group assumes all the obligations of the merging self-insurance groups.
(2) The Commissioner shall hold a hearing on the merger at the request of any party including a member of either self-insurance group.
Obligations of self-insurance group
(c) For purposes of this section, obligations include known claims and associated expenses and claims incurred but not reported and associated expenses.

Credits

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 609.
MD Code, Insurance, § 25-306, MD INSURANCE § 25-306
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