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PARRIS N. GLENDENING, Governor Ch. 334
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Section 30-101
Annotated Code of Maryland
(1997 Replacement Volume and 2001 Supplement)
BY repealing and reenacting, with amendments,
Article — State Personnel and Pensions
Section 30-210
Annotated Code of Maryland
(1997 Replacement Volume and 2001 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows;
Article - State Personnel and Pensions
30-101.
(a) In this title the following words have the meanings indicated.
(b) (1) "Annuity contract" means a fixed or variable annuity contract or
combination of fixed or variable annuity contracts authorized under § 403(a) or (b) of
the Internal Revenue Code.
(2) "Annuity contract" includes a custodial account to be invested in
regulated investment company stock as provided in § 401(f) or § 403(b)(7) of the
Internal Revenue Code.
(c) "Designated company" means an entity that:
(1) on or before March 1, 1993, was designated by the governing board of
an employing institution to offer annuity contracts under the program; or
(2) is designated by the Board of Trustees.
(d) "Eligible employee" means an individual eligible to participate in the
program.
(e) "Employing institution" means:
(1) the University System of Maryland;
(2) Morgan State University;
(3) St. Mary's College; and
(4) the Maryland Higher Education Commission with respect to eligible
employees of the Commission or any community college or regional community college
established under Title 16 of the Education Article.
(f) "Participating employee" means an eligible employee who elects to
participate in the program.
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