Maryland § 30-202
Full text of Maryland Maryland Code § 30-202, with citation guidance and answers to common questions.
§ 30-202.
(a) The Board of Trustees may designate not more than five companies from which annuity contracts are to be purchased under the program.
(b) The Board of Trustees shall approve the form and contents of annuity contracts to be offered by a company that is designated by the Board of Trustees under subsection (a) of this section.
(c) In making the designation and giving approval under this section, the Board of Trustees shall consider:
(1) the nature and extent of the rights and benefits to be provided by the annuity contracts for participating employees and their beneficiaries;
(2) the relation of those rights and benefits to the amount of contributions to be made;
(3) the suitability of the rights and benefits to the needs of the participating employees and the interests of the employing institutions in the recruitment and retention of participating employees;
(4) the ability of the company to provide for suitable rights and benefits under the annuity contracts;
(5) the selection of annuity contracts offered by the company;
(6) the financial stability of the company and whether the company meets minimum financial criteria, if any, including a minimum net worth requirement, if any, established by the Board of Trustees; and
(7) the effect of any fees, commissions, or other charges imposed or collected in connection with an annuity contract.
Frequently Asked Questions About Maryland § 30-202
What does Maryland Code § 30-202 cover?
Section 30-202 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 § 30-202?
A common citation format is "Maryland Code § 30-202" (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 § 30-202 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.