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Ch. 871
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3360
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LAWS OF MARYLAND
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Article 73B - Pensions
FIDUCIARY RESPONSIBILITY
72.
FOR THE PURPOSES OF THIS SUBTITLE:
(1) THE TERM "EMPLOYEE" MEANS THE STATE OF
MARYLAND AND ANY MUNICIPAL CORPORATION AS DEFINED IN
SECTION 21 OF THIS ARTICLE. OR ANY POLITICAL SUBDIVISION,
OR ANY AGENCY OR INSTRUMENTALITY ACTING DIRECTLY AS AN
EMPLOYER OR INDIRECTLY IN THE INTEREST OF AN EMPLOYER, IN
RELATION TO A PLAN; AND INCLUDES A GROUP OR ASSOCIATION
OF STATE OR LOCAL EMPLOYERS ACTING FOR A STATE OR LOCAL
EMPLOYER IN SUCH CAPACITY.
(2) THE TERM "EMPLOYEE" MEANS ANY INDIVIDUAL
EMPLOYED BY AN EMPLOYEE.
(3) THE TERM "PARTICIPANT" MEANS ANY
EMPLOYEE OR FORMER EMPLOYEE OR AN EMPLOYER, OR ANY
MEMBER OR FORMER MEMBER OF AN EMPLOYEE ORGANIZATION, WHO
IS OR MAY BECOME ELIGIBLE TO RECEIVE A BENEFIT OF ANY
TYPE FROM A PLAN WHICH COVERS EMPLOYEES OF THE EMPLOYER
OR MEMBERS OF AN ORGANIZATION, OR WHOSE BENEFICIARIES MAY
BE ELIGIBLE TO RECEIVE ANY OF THESE BENEFITS.
(4) THE TERM "PERSON" MEANS THE STATE OF
MARYLAND OR ANY POLITICAL SUBDIVISION OR ANY AGENCY OR
INSTRUMENTALITY, AN INDIVIDUAL, PARTNERSHIP, JOINT
VENTURE, CORPORATION, MUTUAL COMPANY, JOINT-STOCK
COMPANY, TRUST, ESTATE, UNINCORPORATED ORGANIZATION,
ASSOCIATION, OR EMPLOYEE ORGANIZATION.
(5) THE TERM "PARTY IN INTEREST" MEANS, AS
TO A PLAN:
(I) ANY FIDUCIARY (INCLUDING, BUT NOT
LIMITED TO, ANY ADMINISTRATOR, OFFICER, TRUSTEE, OR
CUSTODIAN), COUNSEL, OR EMPLOYEE OF A PLAN;
(II) A PERSON PROVIDING SERVICES TO A
PLAN;
(III) AN EMPLOYER ANY OF WHOSE EMPLOYEES
ARE COVERED BY A PLAN;
(IV) AN EMPLOYEE ORGANIZATION ANY OF
WHOSE MEMBERS ARE COVERED BY A PLAN;
(V) ANY ELECTED OFFICIAL OF AN
EMPLOYER;
(VI) A RELATIVE (AS DEFINED IN
PARAGRAPH (6)) OF ANY INDIVIDUAL DESCRIBED IN
SUBPARAGRAPH (I), (II), (III), OR (V).
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