Maryland § 15-1220
Full text of Maryland Maryland Code § 15-1220, with citation guidance and answers to common questions.
§ 15-1220.
(a) The Pool shall manage and invest all money collected by or on behalf of the Pool through premium charges, assessments, earnings from investments, or otherwise, through a financial management committee composed of the Executive Director and two members of the Board.
(b) All operating expenses of the Pool shall be paid from funds collected by or on behalf of the Pool.
(c) The account of the Pool is a special fund account and the money in the account is not part of the General Fund of the State.
(d) The State may not provide General Fund appropriations to the Pool and the obligations of the Pool are not a debt of the State or a pledge of the credit of the State.
(e) All debts, claims, obligations, and liabilities of the Pool, whenever incurred, shall be the debts, claims, obligations, and liabilities of the Pool only and not of the State or the State’s agencies, instrumentalities, officers, or employees.
(f) The Pool is exempt from:
(1) taxation by the State and local government;
(2) the general procurement law provisions of Division II of the State Finance and Procurement Article; and
(3) Division I of the State Personnel and Pensions Article.
Frequently Asked Questions About Maryland § 15-1220
What does Maryland Code § 15-1220 cover?
Section 15-1220 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 15-1220?
A common citation format is "Maryland Code § 15-1220" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 15-1220 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.