Maryland Code, INSURANCE 5-504
Current as of: 2023 | Check for updates
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Terms Used In Maryland Code, INSURANCE 5-504
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(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.