|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 42
|
|
2007 Laws of Maryland
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Article - Labor and Employment
Section 9-404(b), (c), (i), (j), and (k)
Annotated Code of Maryland
(1999 Replacement Volume and 2006 Supplement)
BY repealing and reenacting, without amendments,
Article 95 - Treasurer
Section 22(a)
Annotated Code of Maryland
(2003 Replacement Volume and 2006 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Labor and Employment
9-404.
(a) (1) The Commission shall adopt regulations:
(I) setting procedures and other requirements for a
governmental self-insurance group to establish joint self-insurance coverage; AND
(II) ESTABLISHING GUIDELINES TO GOVERN THE
INVESTMENT OF SURPLUS MONEYS NOT NEEDED TO MEET CURRENT
OBLIGATIONS IN A MANNER THAT WILL ENSURE SOLVENCY OF THE FUND AND
TIMELY PAYMENT OF CLAIMS.
(2) NOTWITHSTANDING THE LOCAL GOVERNMENT GUIDELINES
SET FORTH IN ARTICLE 95, § 22 OF THE CODE, THE GUIDELINES REQUIRED BY
PARAGRAPH (1)(II) OF THIS SUBSECTION SHALL:
(I) STATE THE TYPES OF INVESTMENT IN WHICH MONEYS
MAY BE INVESTED;
(II) INCLUDE GUIDANCE FOR THE PRUDENT INVESTMENT
OF MONEYS BASED ON CLAIM EXPERIENCE, CASH FLOW PROJECTIONS, INCOME,
LIQUIDITY, INVESTMENT RATINGS, AND RISK;
(III) AUTHORIZE INVESTMENTS OF MONEYS IN EQUITIES,
PROVIDED THAT INVESTMENTS DO NOT EXCEED 30 PERCENT OF THE SURPLUS
MONEYS;
|
|
|
|
|
|
|
|
|
|
- 852 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
