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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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INSURANCE |
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TITLE 24. STATE CREATED MUTUAL SOCIETIES AND OTHER ENTITIES |
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SUBTITLE 2. MEDICAL MUTUAL LIABILITY INSURANCE SOCIETY OF MARYLAND |
§ 24-203. Medical Mutual Liability Insurance Society of Maryland
Latest version.
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(a) Established. --
(1) There is a Medical Mutual Liability Insurance Society of Maryland.
(2) The Society is a nonstock corporation.
(b) Powers, privileges, and immunities. -- Except as otherwise provided in this subtitle, the Society has the powers, privileges, and immunities granted by and is subject to the provisions imposed on mutual insurers by this article and by the applicable provisions of the Corporations and Associations Article.
(c) Member of specified entities. -- The Society is a member of the Joint Insurance Association and the Property and Casualty Insurance Guaranty Corporation.
(d) Independent from State. --
(1) The Society is not and may not be deemed a department, unit, agency, or instrumentality of the State for any purpose.
(2) All debts, claims, obligations, and liabilities of the Society, whenever incurred, shall be the debts, claims, obligations, and liabilities of the Society only and not of the State or the State's agencies, instrumentalities, officers, or employees.
(e) Moneys of Society; General Fund appropriations. --
(1) The moneys of the Society are not part of the General Fund of the State.
(2) The State may not budget for or provide General Fund appropriations to the Society.
(3) The debts, claims, obligations, and liabilities of the Society are not a debt of the State or a pledge of the credit of the State.