Section 19-602 - Insurance Pools by Public Entities Authorized

(a) In this section, 'public entity' means: (1) a political subdivision of the State; (2) a unit of the State or a local government; or (3) a nonprofit or nonstock corporation that: (i) receives 50% or more of its annual operating budget from the State or a local government; and (ii) is exempt from taxation under § 501(c)(3) or (4) of the Internal Revenue Code. (b) Public entities may pool together to purchase casualty insurance, property insurance, or health insurance or to self-insure against casualty, property, or health risks.