§ 9-103. Program and Fund established

   (a) Program. -- There is a State Insurance Program for providing and administering purchased insurance and self-insurance for the State, including:

   (1) insurance on State property;

   (2) insurance that federal law requires;

   (3) insurance trust agreements; and

   (4) insurance against other risk or commitment of the State.

(b) Fund. --

   (1) There is a State Insurance Trust Fund.

   (2) The Fund consists of:

      (i) each General Fund and special fund appropriation in the State budget to the Treasurer or a unit of the State government for self-insurance;

      (ii) each General Fund and special fund appropriation to the State Insurance Trust Fund for payment under Title 12, Subtitle 5 of the State Government Article;

      (iii) each premium that a unit of the State government pays for protection under the Fund;

      (iv) each payment for a loss under purchased insurance; and

      (v) each payment from salvage or other recovery that results from a loss paid through the Program.

   (3) The General Assembly intends that the State budget include sufficient General Fund appropriations to provide in the State Insurance Trust Fund a reserve that the Treasurer considers adequate to cover losses under § 9-105 of this title.

HISTORY: An. Code 1957, art. 95, § 26, 28, 29, 32; 1985, ch. 11, § 2; 1989, ch. 506.