§ 19-602. Insurance pools by public entities authorized

MD Ins Code § 19-602 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(a)    In this section, “public entity” means:

(1)    a political subdivision of the State;

(2)    a unit of the State or a local government; or

(3)    a nonprofit or nonstock corporation that:

(i)    receives 50% or more of its annual operating budget from the State or a local government; and

(ii)    is exempt from taxation under § 501(c)(3) or (4) of the Internal Revenue Code.

(b)    Public entities may pool together to purchase casualty insurance, property insurance, or health insurance or to self-insure against casualty, property, or health risks.