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Maryland Code, Insurance § 5-504

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) A life insurer may not purchase an investment or security at a price above its market value.

(b) Subsection (a) of this section does not prohibit a life insurer from acquiring control of another insurer.

(c) This subtitle does not prohibit a life insurer from acquiring other or additional securities or property that is received:

(1) as a dividend;

(2) as a lawful distribution of assets; or

(3) under a lawful and bona fide agreement of bulk reinsurance, merger, or consolidation.

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Cite this article: FindLaw.com - Maryland Code, Insurance § 5-504 - last updated January 01, 2025 | https://codes.findlaw.com/md/insurance/md-code-insurance-sect-5-504/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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