{"data":{"id":"us-md/md.-code-insurance-24-210","jurisdiction":"us-md","citation":"Md. Code, Insurance § 24–210","heading":"","body":"(a) Notwithstanding any other provision of this subtitle, the Society may establish, own, or control a subsidiary for any business purpose.\n(b) A subsidiary that is established, owned, or controlled by the Society is not subject to this subtitle.\n(c) (1) A subsidiary of the Society is not and may not be deemed a department, unit, agency, or instrumentality of the State for any purpose.\n(2) The State may not be held in any way liable or responsible for any of the debts, claims, obligations, or liabilities of a subsidiary of the Society or the Society.\n(d) Without the prior approval of the Board of Directors, including at least 80% of the physician members of the Board of Directors, the Society may not directly or indirectly capitalize, transfer moneys to, or purchase stock in an insurance subsidiary beyond the $3,250,000 used by the Society before December 31, 1989, to capitalize the insurance subsidiaries.","path":["Article - Insurance"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gin\u0026section=24-210","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:28Z","sha256":"c41ed07034fc13fa8d005d9e5846c70b394e498e6a949d8874a4e03c1dc8ed6f","source_id":"us-md","stale":false,"prev":"us-md/md.-code-insurance-24-209","next":"us-md/md.-code-insurance-24-211"},"notice":"GroundRules: Original legal text. Not legal advice."}