§ 4A-12A-11

Maryland § 4A-12A-11

• Jurisdiction: Maryland
• Article gca: Corporations and Associations
• Title: 4A

Text

§4A–12A–11. NOT IN EFFECT

** TAKES EFFECT OCTOBER 1, 2026 PER CHAPTERS 198 AND 199 OF 2025 **

(a) In this section, “actual payroll value” means the total amount of money paid to an employee after taxes and deductions and includes the base salary, bonuses, overtime, leave benefits, commissions, and tips.

(b) An insurer, as defined in § 1–101 of the Insurance Article, that provides workers’ compensation insurance to members of a limited worker cooperative association formed under this subtitle shall calculate premiums for members who are covered employees:

(1) In accordance with Title 11, Subtitle 3 and Title 19, Subtitle 4 of the Insurance Article; and

(2) Based on the covered employee’s actual payroll value.

(c) The Maryland Insurance Commissioner shall enforce this section.

(d) This section may not be construed to prohibit a limited worker cooperative association from acquiring other forms of insurance.