§ 16-116

Maryland § 16-116

• Jurisdiction: Maryland
• Article gin: Insurance
• Title: 16

Text

(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.