Ch. 459

LAWS OF MARYLAND

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1988.

Approved May 17, 1988.

CHAPTER 459

(House Bill 753)

AN ACT concerning

Local Government Insurance Pools - Funding

FOR the purpose of authorizing local governments to enter into
agreements to capitalize or otherwise fund certain insurance
pools; defining a certain term; permitting local governments
by resolution to determine the provisions, terms, conditions
and duration of any such agreement; providing, with a
certain exception, that any payment obligation in any such
agreement is a general obligation of the local government
and is not subject to annual appropriation by the local
government; providing that any payment obligation in any
such agreement is not limited by or otherwise subject to any
charter provision or public local or public general law that
would otherwise apply; providing that, under certain
circumstances, the payment obligation in any such agreement
may be a limited obligation of the local government or
subject to annual appropriation by the local government;
limiting the aggregate outstanding and . unpaid principal
amount that a local government is obligated to pay under any
such agreement; and generally relating to the funding of
certain local government insurance pools.

BY repealing and reenacting, with amendments,

Article 48A - Insurance Code

Section 482B

Annotated Code of Maryland

(1986 Replacement Volume and 1987 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 48A - Insurance Code

482B.

(a) (1) In this section the following words have the
meanings indicated.

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