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Maryland Code, Insurance § 16-116

Current as of December 31, 2021 | Updated by FindLaw Staff

(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 life insurance or to self-insure against life risks.

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Cite this article: FindLaw.com - Maryland Code, Insurance § 16-116 - last updated December 31, 2021 | https://codes.findlaw.com/md/insurance/md-code-insurance-sect-16-116/

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