§ 9-103
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/md/state-finance-and-procurement/9-103·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§9–103.
(a)There is a State Insurance Program for providing and administering purchased insurance and self-insurance for the State, including:
(1)insurance on State property;
(2)insurance that federal law requires;
(3)insurance trust agreements; and
(4)insurance against other risk or commitment of the State.
(1)There is a State Insurance Trust Fund.
(2)The Fund consists of:
(i)each General Fund and special fund appropriation in the State budget to the Treasurer or a unit of the State government for self-insurance;
(ii)each General Fund and special fund appropriation to the State Insurance Trust Fund for payment under Title 12, Subtitle 5 of the State Government Article;
(iii)each premium that a unit of the State government pays for protection under the Fund;
(iv)each payment for a loss under purchased insurance; and
(v)each payment from salvage or other recovery that results from a loss paid through the Program.
(3)The General Assembly intends that the State budget include sufficient General Fund appropriations to provide in the State Insurance Trust Fund a reserve that the Treasurer considers adequate to cover losses under § 9-105 of this title.