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Ch. 165
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1776
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LAWS OF MARYLAND
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Planning.
32.
FOR THE PURPOSE OF ADMINISTERING THIS SUBTITLE, THE
TREASURES SHALL PAY AGENCY LOSSES IN ACCORDANCE WITH
SECTION 27 REGARDLESS OF WHETHER THE AGENCY IS FUNDED IN
WHOLE OR IN PART FROM GENERAL, SPECIAL OR FEDERAL FUNDS.
IT IS INTENDED THAT SUFFICIENT GENERAL FUND
APPROPRIATIONS BE MADE IN THE ANNUAL BUDGET TO PROVIDE
ADEQUATE RESERVES IN THE STATE INSURANCE TRUST FUND, AS
DETERMINED BY THE STATE TREASURER, TO PAY LOSSES IN
ACCORDANCE WITH SECTION 27. IT IS ALSO INTENDED THAT THE
TREASURER ASSESS AGENCIES, FUNDED BY SPECIAL OR FEDERAL
FUNDS, A PREMIUM FOR COVERAGE WHENEVER SUCH COVERAGE BY
THE STATE INSURANCE TRUST FUND IS REQUIRED TO PAY LOSSES
DUE TO TOTAL PROTECTION OR DUE TO APPLICABLE DEDUCTIONS
ON PURCHASED INSURANCE. IN ASSESSING THE PREMIUMS, THE
TREASURER SHALL CONSIDER THE POTENTIAL EXPOSURE OF THE
FUND AND ITS LOSS EXPERIENCE AND SHALL ATTEMPT TO SET
SUCH PREMIUMS AT A RATE TO EQUALIZE PAYMENTS TO THE FUND
WITH PAYMENTS FROM THE FUND.
33.
In carrying out his duties under this subtitle, the
Treasurer shall receive the cooperation and assistance of
the State Law Department, [and] the Department of General
Services[.], AND THE STATE FIRE MARSHAL. The valuation
of State properties in the case of loss or damage shall
be determined by joint action of the Department of
General Services and the agency or department having
possession of the property at the time and shall be
certified BY THE DEPARTMENT OF GENERAL SERVICES to the
State Treasurer. THE VALUATION OF LIABILITY CLAIMS
AGAINST THE STATE SHALL BE DETERMINED BY THE STATE LAW
DEPARTMENT AND SHALL BE CERTIFIED TO THE STATE TREASURER,
IN THE SETTLEMENT OF LOSSES OR LIABILITY CLAIMS, NO [No]
moneys in excess of the LOSS OR LIABILITY certification
may be paid out of the fund by the Treasurer.
35.
(a) The Treasurer shall issue an annual report on
the State [Self-Insurance] INSURANCE TRUST Fund and its
administration, together with any recommendations for
change in the operation of the fund and the State
insurance program.
(b) The fund shall be audited by the legislative
auditor in the manner required by § 61B of Article 40 of
this Code, as amended from time to time.
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SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1977.
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Approved April 29, 1977.
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