Maryland § 30-208
Full text of Maryland Maryland Code § 30-208, with citation guidance and answers to common questions.
§ 30-208.
(a) Every 3 years the Board of Trustees shall review the performance, form, and contents of the annuity contracts offered under the program.
(b) After a review under subsection (a) of this section, the Board of Trustees may:
(1) eliminate a designated company from participation in the program; or
(2) withdraw approval for a type of annuity contract offered by a designated company under the program.
(c) (1) If a designated company is eliminated from the program or approval for a type of annuity contract is withdrawn, the Board of Trustees:
(i) to the extent permitted under an annuity contract, may direct the transfer of existing balances of participating employees to a new annuity contract; and
(ii) shall give participating employees an opportunity to select an annuity contract with a designated company for future contributions and existing balances subject to transfer under the program, in accordance with item (i) of this paragraph.
(2) If a participating employee does not make a selection under paragraph (1)(ii) of this subsection within a period specified by the Board of Trustees, the participating employee shall be deemed to have elected for future contributions and existing balances subject to transfer an annuity contract and a designated company specified by the Board of Trustees.
(d) All eligible employees shall have access to the information compiled for the purpose of conducting the review required under this section and shall be notified of the availability of the information by the Board of Trustees.
Frequently Asked Questions About Maryland § 30-208
What does Maryland Code § 30-208 cover?
Section 30-208 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 § 30-208?
A common citation format is "Maryland Code § 30-208" (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 § 30-208 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.