Nuveen Maryland Premium Income Municipal Fund (the Fund) is a closed-ended investment company. The Fund seeks to provide current income exempt from both regular federal and designated state income taxes by investing primarily in a portfolio of municipal obligations issued by state and local government authorities within a single state or certain of the United States territories. The Fund invests all of its assets in tax-exempt Maryland municipal obligations rated at the time of purchase within the four highest grades (Baa/BBB or better). It may invest up to 20% of its assets in unrated Maryland municipal obligations. The Fund may purchase financial futures and options in order to hedge its portfolio risk. Nuveen Fund Advisors, Inc., formerly Nuveen Asset Management, is the Fund's Adviser. Nuveen Asset Management, LLC is the sub-adviser of the Fund.