§ 24-311. Transfers to Company

Latest version.

(a) In general. -- Except as provided in subsections (b) and (c) of this section, on October 1, 2013, all the functions, powers, duties, assets, real and personal property, accounts, liabilities, contracts, and obligations of the Fund shall be irrevocably transferred to the Company, including liability for all claims, whether known or unknown, arising out of any insurance policy previously issued by the Fund.

(b) Contract for the Self-Insured Workers' Compensation Program. -- Any contract or agreement with the State for the third party administration of the State's Self-Insured Workers' Compensation Program for State Employees may not be transferred or assigned to the Company until the Fund no longer has employees.

(c) Retention of assets. -- The Fund shall retain those assets necessary to perform its duties under Title 10 of the Labor and Employment Article.

HISTORY: 2012, ch. 570, § 1.

                    
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