Maryland Code, STATE GOVERNMENT 6.5-303
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maryland Code, STATE GOVERNMENT 6.5-303
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
In determining whether to approve an acquisition of a nonprofit health service plan or a nonprofit health maintenance organization, the Administration shall consider:
(1) the criteria listed in § 6.5-301 of this subtitle; and
(2) whether the acquisition:
(i) is equitable to enrollees, insureds, shareholders, and certificate holders, if any, of the transferor;
(ii) is in compliance with Title 2, Subtitle 6 of the Corporations and Associations Article; and
(iii) ensures that the transferee will possess surplus in an amount sufficient to:
1. comply with the surplus required under law; and
2. provide for the security of the transferee’s certificate holders and policyholders.