1. (a) There is a State Insurance Program for providing and administering purchased insurance and self-insurance for the State, including:

   1. (1) insurance on State property;
   2. (2) insurance that federal law requires;
   3. (3) insurance trust agreements; and
   4. (4) insurance against other risk or commitment of the State.

2. (b)

   1. (1) There is a State Insurance Trust Fund.

   2. (2) The Fund consists of:

      1. (i) each General Fund and special fund appropriation in the State budget to the Treasurer or a unit of the State government for self-insurance;
      2. (ii) each General Fund and special fund appropriation to the State Insurance Trust Fund for payment under Title 12, Subtitle 5 of the State Government Article;
      3. (iii) each premium that a unit of the State government pays for protection under the Fund;
      4. (iv) each payment for a loss under purchased insurance; and
      5. (v) each payment from salvage or other recovery that results from a loss paid through the Program.
   3. (3) The General Assembly intends that the State budget include sufficient General Fund appropriations to provide in the State Insurance Trust Fund a reserve that the Treasurer considers adequate to cover losses under § 9-105 of this title.

Added by Acts 1985, c. 11, § 2, eff. Oct. 1, 1985. Amended by Acts 1989, c. 506.

Formerly Art. 95, §§ 26, 28, 29, 32.