§ 24–210
Statutes in effect as of October 1, 2026.
Md. Code Ann., Ins. § 24-210 (2026)
Title 24. State Created Mutual Societies and Other Entities
Subtitle 2. Medical Mutual Liability Insurance Society of Maryland
§ 24–210LinkCopy Citation
(a)
Notwithstanding any other provision of this subtitle, the Society may establish, own, or control a subsidiary for any business purpose.
(b)
A subsidiary that is established, owned, or controlled by the Society is not subject to this subtitle.
(c)
(1)
A subsidiary of the Society is not and may not be deemed a department, unit, agency, or instrumentality of the State for any purpose.
(2)
The State may not be held in any way liable or responsible for any of the debts, claims, obligations, or liabilities of a subsidiary of the Society or the Society.
(d)
Without the prior approval of the Board of Directors, including at least 80% of the physician members of the Board of Directors, the Society may not directly or indirectly capitalize, transfer moneys to, or purchase stock in an insurance subsidiary beyond the $3,250,000 used by the Society before December 31, 1989, to capitalize the insurance subsidiaries.