Maryland Code, INSURANCE 24-210
Terms Used In Maryland Code, INSURANCE 24-210
- including: means includes or including by way of illustration and not by way of limitation. See
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) A subsidiary that is established, owned, or controlled by the Society is not subject to this subtitle.
(c) (1) A subsidiary of the Society is not and may not be deemed a department, unit, agency, or instrumentality of the State for any purpose.
(2) The State may not be held in any way liable or responsible for any of the debts, claims, obligations, or liabilities of a subsidiary of the Society or the Society.
(d) Without the prior approval of the Board of Directors, including at least 80% of the physician members of the Board of Directors, the Society may not directly or indirectly capitalize, transfer moneys to, or purchase stock in an insurance subsidiary beyond the $3,250,000 used by the Society before December 31, 1989, to capitalize the insurance subsidiaries.