Maryland Code, INSURANCE 9-314
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Terms Used In Maryland Code, INSURANCE 9-314
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(a) A member insurer, the Corporation or its agents or employees, the Board of Directors, and the Commissioner or the Commissioner’s representatives shall have the immunity from liability described in § 5-412 of the Courts Article.
(b) Notwithstanding subsection (a) of this section, the Corporation is not and may not be deemed a department, unit, agency, or instrumentality of the State.