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§ 10-108. Disposition of assets of Fund

West's Annotated Code of MarylandLabor and EmploymentEffective: October 1, 2013

West's Annotated Code of Maryland
Labor and Employment
Title 10. Funds (Refs & Annos)
Subtitle 1. Injured Workers' Insurance Fund (Refs & Annos)
Effective: October 1, 2013
MD Code, Labor and Employment, § 10-108
Formerly cited MD LABOR & EMPLY, § 10-127
§ 10-108. Disposition of assets of Fund
Currentness
State interest
(a) The State has no interest in the assets of the Fund.
Rights of Fund to revenues, money, and assets
(b) All revenues, money, and assets of the Fund belong solely to the Fund and are held by the Fund in trust for the policyholders, injured workers and their families, and creditors of the Fund.
Powers of State with respect to fund money
(c) The State may not borrow, appropriate, or direct payments from the revenues, money, or assets of the Fund for any purpose.
Dissolution
(d) The Fund may not be dissolved.

Credits

Added as Labor and Employment § 10-127 by Acts 2012, 1st Sp. Sess., c. 1, § 1, eff. June 1, 2012. Renumbered as Labor and Employment § 10-108 by Acts 2013, c. 43, § 5.
MD Code, Labor and Employment, § 10-108, MD LABOR & EMPLY § 10-108
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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