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Maryland Code, Insurance § 5-606

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

(a)(1) Except as otherwise specifically provided in this subtitle, an insurer may not have more than 10% of its total admitted assets invested in or lent on the securities of one person.

(2) Paragraph (1) of this subsection does not apply to:

(i) the classes of governmental obligations eligible for minimum capital investments of the insurer, including those obligations eligible under § 5-608(l) of this subtitle; or

(ii) investments in stock of other insurers.

(b) An insurer may not acquire the kind of real property specified in § 5-608(n)(1)(i) and (ii) of this subtitle if the value of the real property, plus the value of all of the real property then held by the insurer, exceeds 10% of the insurer's total admitted assets.

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Cite this article: FindLaw.com - Maryland Code, Insurance § 5-606 - last updated January 01, 2025 | https://codes.findlaw.com/md/insurance/md-code-insurance-sect-5-606/

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