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Ch. 165
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1774
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LAWS OF MARYLAND
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POWER IS PROHIBITED OR LIMITED BY AGREEMENT OR BY ANY
PROVISION OF LAW, THE STATE TREASURER IS RESPONSIBLE FOR
ALL PROGRAMS OF PURCHASED INSURANCE OR SELF-INSURANCE FOR
THE STATE, INCLUDING THE PLACEMENT AND ADMINISTRATION OF:
ALL INSURANCE ON STATE PROPERTY; ALL INSURANCE AGAINST
OTHER LOSS RISKS REQUIRED TO BE PURCHASED BY FEDERAL LAWS
OR REGULATIONS; INSURANCE TRUST AGREEMENTS; AND INSURANCE
AGAINST ANY OTHER RISK OR COMMITMENT OF THE STATE.
(B) WHERE AN AGENCY OF THE STATE IS SPECIFICALLY
AUTHORIZED BY LAW TO PURCHASE INSURANCE, AT THE
DISCRETION OF THE TREASURER SUCH INSURANCE SHALL BE
PURCHASED BY THE TREASURER OR ITS PURCHASE SHALL BE
SUBJECT TO PRIOR APPROVAL OF THE TREASURER.
27.
[The Treasurer shall pay for loss or damage to State
property in the following cases:]
(A) THE TREASURER SHALL PROVIDE SELF-INSURANCE
FOR:
(1) 1. Loss or damage to State motor
vehicles [as determined by the State Treasurer];
(2) 2. Loss or damage [under hull
insurance on] TO HULLS OF State vessels;
(3) 3. Loss or damage to State personal
property and fine arts [as determined by the State
Treasurer; and];
(4) 4. Loss or damage to State real
property [as determined by the State Treasurer.] NOT
PROVIDED BY PURCHASED INSURANCE; AND
(5) 5. SUCH OTHER LOSS RISKS AS
DETERMINED BY THE STATE TREASURER AND FOR WHICH FUNDS ARE
AVAILABLE.
(B) TO THE EXTENT THAT FUNDS ARE AVAILABLE, THE
TREASURER SHALL PROVIDE PURCHASED INSURANCE:
(1) 1. AS REQUIRED BY LAW; OR
(2) 2. AS THE TREASURER DEEMS APPROPRIATE
TO THE INTERESTS OF THE STATE.
27A.
THE TREASURER SHALL, WHENEVER POSSIBLE, PLACE
PURCHASED INSURANCE BY COMPETITIVE BIDDING WITH
RESPONSIBLE COMPANIES, HOWEVER, AT THE DISCRETION OF THE
TREASURER, INSURANCE MAY BE PURCHASED BY NEGOTIATION
WHERE THE CIRCUMSTANCES INDICATE THAT NEGOTIATION IS MORE
PRACTICAL OR AND MORE BENEFICIAL TO THE STATE.
28.
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