(a) Whenever there is in the hands of the Treasurer any sum
belonging to the State Accident Fund not likely to be required
for immediate use, the Treasurer shall invest that money in
investments legal for fire, casualty, and miscellaneous insurance
companies as provided in §§ 97 through 107 of Article 48A -
Insurance Code, of this Code. If necessary or expedient to use
the moneys so loaned or invested, the Treasurer shall collect
or sell or otherwise realize upon any such loan or investment.
Any interest accruing upon any such loan or investment, as well
as any interest received upon the deposit of moneys belonging to
the Fund, shall be credited to the Fund.
(b) The State Treasurer may deposit any portion of the
State Fund not needed for immediate use in the manner and subject
to all provisions of law respecting the deposit of [other] State
funds by him. Interest earned by such portion of the State
Accident Fund deposited by the State Treasurer shall be collected
by him and placed to the credit of the Fund.
In the administration of the State Accident Fund, the
commissioners of the State Accident Fund[, subject to approval by
the Secretary of personnel,] shall have full power and authority
to make any and all rules and regulation not inconsistent with
law, for the conduct of the business of the State Accident Fund;
including the issuance of policies of insurance under this
article protecting Maryland employees of Maryland employers who
are injured in the line of duty regardless of where the injury
SECTION 2. AND BE IT FURTHER ENACTED, That there is a Task
Force to study the State Accident Fund.
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WILLIAM DONALD SCHAEFER, Governor
ADEQUATE TO MEET ANTICIPATED LOSSES AND CARRY ALL CLAIMS AND
POLICIES TO MATURITY.
The Treasurer of the State shall be the custodian of the
State Accident Fund and all disbursements therefrom shall be paid
by him upon order on voucher., approved and signed by the chairman
or vice-chairman of the commissioners of the State Accident Fund
and the superintendent [thereof, and directed to the Comptroller
of the State, who shall draw his warrant therefor]. It shall be
the duty of the Treasurer to keep and maintain the Fund herein
created separate and district from [other] State funds. On and
after January 1st, 1915, the obligation in the bond of the State
Treasurer shall contain a provision securing the protection of