Maryland Code, INSURANCE 25-304
Terms Used In Maryland Code, INSURANCE 25-304
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- including: means includes or including by way of illustration and not by way of limitation. See
(b) Each self-insurance group must have combined net assets of at least $1,000,000.
(c) (1) A self-insurance group shall pay all workers’ compensation benefits for which each member incurs liability during its period of membership.
(2) Each member of a self-insurance group is jointly and severally liable for the workers’ compensation obligations of the group and its members that are incurred during its period of membership.
(3) A member who elects to terminate its membership in or is canceled by a group remains jointly and severally liable for workers’ compensation obligations of the group and its members which were incurred during the canceled or terminated member’s period of membership.
(4) The insolvency or bankruptcy of a member does not relieve the self-insurance group or any other member of liability for the payment of workers’ compensation benefits incurred during the insolvent or bankrupt member’s period of membership.