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PARRIS N. GLENDENING, Governor H.B. 980
10-112.
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(a) The Board may not act on any matter unless at least [4] 6 members
concur.
(b) Each member of the Board shall devote the time needed to carry out the
duties of office.
(c) The Board shall determine the times and places of its meetings.
(d) (1) Each member of the Board is entitled to:
(i) the salary provided in the budget of the Board; and
(ii) reimbursement for expenses under the Standard State Travel
Regulations, as provided in the budget of the Board.
(2) Each member of the Board shall be paid semimonthly.
10-118.
(a) The Fund shall consist of:
(1) premiums for insurance that the Fund issues;
(2) income from investments [that the State Treasurer makes for the
Fund] under § 10-122 of this subtitle;
(3) interests on deposits or investments of money from the Fund; and
(4) the money that the Attorney General collects under § 10-133(c) of
this subtitle on debts.
(b) The Fund shall include each security or other property that is acquired
with money of the Fund.
(c) The Board shall use the Fund to pay all of the expenses under this subtitle,
including losses on insurance that the Fund issues.
[10-119.
(a) The State Treasurer is custodian of the Fund.
(b) The State Treasurer shall keep the Fund separate from State money.]
10-122.
(a) If, at any time, the amount of money in the Fund exceeds the amount that
the Board considers necessary for immediate use, the [State Treasurer] EXCESS shall
BE[.
(1) invest the excess] INVESTED in any investment authorized under
Title 5, Subtitle 6 of the Insurance Article for insurance companies [; or
(2) deposit the excess in accordance with the laws that govern deposit of
State money.
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- 4709 -
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