Md. Code, Insurance § 16-116
Md. Code, Insurance § 16-116
in effect(a) In this section, “public entity” means:
(1) a political subdivision of the State;
(2) a unit of the State or a local government; or
(3) a nonprofit or nonstock corporation that:
(i) receives 50% or more of its annual operating budget from the State or a local government; and
(ii) is exempt from taxation under § 501(c)(3) or (4) of the Internal Revenue Code.
(b) Public entities may pool together to purchase life insurance or to self-insure against life risks.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gin§ion=16-116&enactments=falseFetched: 10/17/2026