Maryland § 20-506
Full text of Maryland Maryland Code § 20-506, with citation guidance and answers to common questions.
§ 20-506.
(a) The Executive Director shall:
(1) establish and maintain reasonable and adequate reserves for payment of claims against the Fund; and
(2) use the same criteria as is required for use by an Association member in determining the amount of reserves that are necessary.
(b) At least annually, the Board of Trustees shall review the reasonableness and adequacy of reserves.
Frequently Asked Questions About Maryland § 20-506
What does Maryland Code § 20-506 cover?
Section 20-506 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 § 20-506?
A common citation format is "Maryland Code § 20-506" (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 § 20-506 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.