Maryland Code, Insurance § 7-203

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

(a)(1) Except as provided in subsection (b) of this section, within 3 years after a domestic insurer ends its control of a subsidiary, the domestic insurer shall dispose of all investments in the subsidiary that were made under § 7-202 of this subtitle.

(2) The Commissioner may extend the time for disposal of the investments.

(b) A domestic insurer is not required to dispose of an investment under subsection (a) of this section if, after the investment is made:

(1) the investment meets the requirements for investment under another provision of this article; and

(2) the domestic insurer notifies the Commissioner that the investment meets the other requirements.

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Cite this article: FindLaw.com - Maryland Code, Insurance § 7-203 - last updated January 01, 2025 | https://codes.findlaw.com/md/insurance/md-code-insurance-sect-7-203/

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