{"data":{"id":"us-md/md.-code-insurance-8-310","jurisdiction":"us-md","citation":"Md. Code, Insurance § 8–310","heading":"","body":"An administrator shall discharge the administrator’s duties with respect to a plan or a life insurer:\n(1) solely in the interest of providing to the plan’s participants and beneficiaries the benefits to which they are entitled under the plan or on behalf of a life insurer;\n(2) for the exclusive purpose of providing benefits to the plan’s participants and beneficiaries and defraying reasonable expenses of administering the plan or on behalf of a life insurer;\n(3) with the care, skill, prudence, and diligence that a prudent person acting in a similar capacity and under similar circumstances would use to conduct an enterprise of similar character and with similar aims;\n(4) if applicable, by diversifying the investments of the plan or the life insurer to minimize the risk of large losses, unless under the circumstances it is clearly prudent not to do so; and\n(5) in accordance with the documents and instruments governing the plan or the life insurer to the extent that the documents and instruments are not inconsistent with this subtitle.","path":["Article - Insurance"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gin\u0026section=8-310","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:28Z","sha256":"0ca9330adb7c5a2f4b3e94d2f5fdf5217573b8965f49cc42047e62aac33a72e6","source_id":"us-md","stale":false,"prev":"us-md/md.-code-insurance-8-309","next":"us-md/md.-code-insurance-8-311"},"notice":"GroundRules: Original legal text. Not legal advice."}