Maryland § 9-406
Full text of Maryland Maryland Code § 9-406, with citation guidance and answers to common questions.
§ 9-406.
(a) (1) The Board of Directors of the Corporation consists of at least 7 members but not more than 11 members.
(2) The members of the Board shall be elected from among the member insurers.
(3) The terms of the members of the Board shall be as set by the plan of operation.
(4) A vacancy on the Board shall be filled for the remainder of the term by a majority vote of the remaining members of the Board.
(b) (1) The Board of Directors shall elect a chairman and appoint an executive committee.
(2) The Board may elect other officers.
(c) When electing members of the Board of Directors or filling vacancies on the Board, consideration shall be given to, among other things, whether all member insurers are fairly represented.
(d) A member of the Board of Directors:
(1) may be reimbursed by the Corporation for expenses incurred in carrying out duties as a member of the Board; but
(2) may not otherwise receive compensation from the Corporation for the member’s service.
(e) (1) The Board of Directors has general oversight authority over funds provided under this subtitle to the Board of Directors or Corporation.
(2) At any time or in any manner as the Board may direct, a receiver, liquidator, rehabilitator, or conservator appointed under this subtitle shall make a detailed accounting of expenditures to the Board.
Frequently Asked Questions About Maryland § 9-406
What does Maryland Code § 9-406 cover?
Section 9-406 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 § 9-406?
A common citation format is "Maryland Code § 9-406" (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 § 9-406 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.