Md. Code, Ins. § 24-309
Md. Code, Ins. § 24-309
Maryland · Maryland Code, Insurance · Status: effective
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- Citation
- Md. Code, Ins. § 24-309, Maryland, version 1 as recorded 2026-09-29, yourstate.us, https://yourstate.us/provision/1780101
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Full text
(a) The Company is not and may not be deemed to be a department, unit, agency, or instrumentality of the State for any purpose.
(b) Employees of the Company are not:
(1) employees of the State; or
(2) members of the State Retirement and Pension System.
(c) All debts, claims, obligations, and liabilities of the Company, whenever incurred, shall be the debts, claims, obligations, and liabilities of the Company only and not of the State or the State’s departments, units, agencies, instrumentalities, officers, or employees.
(d) (1) Money of the Company is not part of the General Fund of the State.
(2) The State may not budget for or provide General Fund appropriations to the Company.
(3) The debts, claims, obligations, and liabilities of the Company are not a debt of the State or a pledge of the credit of the State.