Maryland § 2-516
Full text of Maryland Maryland Code § 2-516, with citation guidance and answers to common questions.
§ 2-516.
(a) In this section, “Fund” means the State Employees and Retirees Health and Welfare Benefits Fund established under this section.
(b) (1) A special reserve fund is established to retain certain State revenues and State general and special funds for the purpose of funding the State Employee and Retiree Health and Welfare Benefits Program established under this subtitle.
(2) The Fund is a continuing, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.
(3) The State Treasurer shall separately hold and the Comptroller shall account for the Fund.
(4) (i) The Fund shall be invested and reinvested in the same manner as other State funds.
(ii) Any investment earnings shall be credited to the Fund.
(c) The Fund consists of money appropriated for State Employee and Retiree Health Insurance or authorized to be transferred to that purpose in the State budget.
(d) (1) Except as otherwise provided in this section, the Fund shall be retained in reserve and may not be spent for any purpose.
(2) Subject to the budget amendment procedure provided for in § 7–209 of the State Finance and Procurement Article, money credited to the Fund may be used only for the purpose of funding the State costs of the State Employee and Retiree Health and Welfare Benefits Program.
Frequently Asked Questions About Maryland § 2-516
What does Maryland Code § 2-516 cover?
Section 2-516 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 § 2-516?
A common citation format is "Maryland Code § 2-516" (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 § 2-516 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.