2606

LAWS OF MARYLAND

[Ch. 544

PAYMENT OF INDEMNITIES TO PERSONS SUFFERING INJURY
ARISING OUT OF THE RENDERING OF OR THE FAILURE TO RENDER
PROFESSIONAL SERVICES BY PHYSICIANS AND TO PROVIDE MEANS
WHEREBY PHYSICIANS MAY OBTAIN INSURANCE AGAINST LIABILITY
FOR INJURY DUE TO THE RENDERING OF OR FAILURE TO RENDER
ANY PROFESSIONAL SERVICE, SUBJECT TO THE LIMITATIONS AND
IMMUNITIES PROVIDED IN THIS SUBTITLE.

548.         DEFINITIONS

(A)     IN THIS SUBTITLE THE FOLLOWING TERMS HAVE THE
MEANINGS INDICATED:

(B)      "PRACTICE OF MEDICINE" HAS THE MEANING
SPECIFIED IN SECTION 119, DEFINITIONS, OF THE HEALTH CODE

(ARTICLE 43) OF THE CODE.

(C)     "PHYSICIAN" MEANS ANY PERSON LICENSED TO
PRACTICE MEDICINE IN THE STATE OF MARYLAND AND ANY PERSON
LEGALLY PRACTICING MEDICINE WITHOUT A LICENSE PURSUANT TO
SUBSECTIONS (B) (1), (B) (2), (B) (3) AND (B) (4) OF
SECTION 122, PRACTICE WITHOUT A LICENSE, OF THE HEALTH
CODE (ARTICLE 43) OF THE CODE.

(D)    "LICENSED PHYSICIAN" MEANS ANY PERSON LICENSED
TO PRACTICE MEDICINE IN THE STATE OF MARYLAND.

549. ESTABLISHMENT

(A)               A NON-STOCK CORPORATION IS CREATED, KNOWN AS
THE "MEDICAL MUTUAL LIABILITY INSURANCE SOCIETY OF
MARYLAND," HEREINAFTER REFERRED TO AS "THE SOCIETY."
EXCEPT AS OTHERWISE PROVIDED IN THIS SUBTITLE, THE
CORPORATION HAS ALL THE POWER, PRIVILEGES, AND IMMUNITIES
GRANTED BY AND IS SUBJECT TO ALL THE PROVISIONS WITH THE
EXCEPTION OF SECTION 254 IMPOSED UPON MUTUAL INSURERS
UNDER THE PROVISIONS OF THE INSURANCE CODE (ARTICLE 48A)
OF THE CODE AND THE APPLICABLE PROVISIONS OF THE
CORPORATION CODE (ARTICLE 23) OF THE CODE.

(B) THE SOCIETY IS EXEMPTED FROM THE

PROVISIONS OF SECTION 268A OF THE INSURANCE CODE (ARTICLE
48A) CONCERNING AGREEMENTS WITH ANOTHER FOR PAYMENT OF
CONSIDERATION FOR MANAGEMENT OF INSURER'S AFFAIRS.

(C)         THE SOCIETY IS A MEMBER OF THE JOINT INSURANCE
ASSOCIATION.

550.                   BOARD OF DIRECTORS OF THE SOCIETY; ARTICLES OF
INCORPORATION, BYLAWS, INSURING POWERS

(A)           THE SOCIETY IS GOVERNED AND ALL OF ITS

CORPORATE POWERS EXERCISED BY A BOARD OF DIRECTORS WHICH
CONSISTS OF 11 MEMBERS. THE INITIAL BOARD OF DIRECTORS