Volume 801, Page 952 View pdf image |
Ch. 257 2004 LAWS OF MARYLAND 14-115. (b) This section applies to a nonprofit health service plan that is: (1) issued a certificate of authority in the State[, whether or not]; AND (2) organized under the laws of [this] THE State. (c) (1) The business and affairs of a nonprofit health service plan shall be (2) (I) The board and its individual members are fiduciaries and shall [(i)] 1. in good faith; [(h)] 2. in a manner that is reasonably believed to be in the best [(iii)] 3. [in a manner that is reasonably believed to be in [(iv)] 4. with the care that an ordinarily prudent person in a like (II) (3) The principal functions of the board shall include: (i) ensuring that the corporation effectively carries out the (ii) selecting corporate management and evaluating its (iii) ensuring to the extent practicable that human resources and (iv) subject to the provisions of subsection (d) of this section, (v) establishing a system of governance at the board level, (VI) BEFORE CONSIDERING ANY BID OR OFFER TO ACQUIRE THE - 952 -
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Volume 801, Page 952 View pdf image |
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