Maryland Code, HUMAN SERVICES 9-409
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Terms Used In Maryland Code, HUMAN SERVICES 9-409
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
All funds recovered under this subtitle shall be deposited in the Annuity Bond Fund and applied to the debt service requirements of the State.