Maryland Code, INSURANCE 5-602
Terms Used In Maryland Code, INSURANCE 5-602
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) The investment portfolio of a foreign insurer or alien insurer, other than a life insurer, shall be:
(1) as allowed by the laws of its domicile; and
(2) of a quality substantially as high as that required under this subtitle for similar funds of like domestic insurers.
(c) The Commissioner may deny or refuse to renew a certificate of authority to a foreign insurer or alien insurer if:
(1) the foreign insurer or alien insurer has investments in one person in excess of the limit provided in § 5-606 of this subtitle; or
(2) the Commissioner finds that its investments do not comply in substance with the investment requirements and limitations of this subtitle for domestic insurers transacting the same kind of insurance business.