§ 14–115.1
Statutes in effect as of October 1, 2026.
Md. Code Ann., Ins. § 14-115.1 (2026)
Title 14. Entities That Act as Health Insurers
Subtitle 1. Nonprofit Health Service Plans
§ 14–115.1LinkCopy Citation
(a)
In this section, “officer” means any officer that a Maryland corporation is required or permitted to have under § 2-412 of the Corporations and Associations Article.
(b)
(1)
An officer of a nonprofit health service plan shall act:
(i)
in good faith;
(ii)
in a manner that is reasonably believed to be in the best interests of the corporation and its controlled affiliates or subsidiaries that offer health benefit plans;
(iii)
in a manner that is consistent with the mission of a nonprofit health service plan as required under § 14-102(c) of this subtitle; and
(iv)
with the care that an ordinarily prudent person in a like position would use under similar circumstances.
(2)
Except for the receipt of reasonable remuneration in conformity with § 14-139 of this subtitle, an officer of a nonprofit health service plan may not use the position of officer for personal or financial enrichment.
(3)
A violation of this subsection shall be considered an unsound or unsafe business practice under § 14-116 of this subtitle.