Maryland Code, INSURANCE 25-301
Terms Used In Maryland Code, INSURANCE 25-301
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
(b) “Administrator” means a person engaged by a workers’ compensation self-insurance group to carry out the policies established by the self-insurance group and to provide management of the self-insurance group.
(c) “Insolvent self-insurance group” means a self-insurance group in which each individual member of the group is unable to meet the member’s debts as they mature in the ordinary course of business, as determined by the Commissioner.
(d) “Self-insurance agreement” means the partnership arrangement between the members of a self-insurance group that defines the rights, obligations, and liabilities of the members of the self-insurance group.
(e) (1) “Self-insurance group” means two or more employers organized in accordance with this subtitle.
(2) “Self-insurance group” does not include a governmental self-insurance group organized under § 9-404 of the Labor and Employment Article.