§ 16-602. Investments of segregated asset accounts
West's Annotated Code of MarylandInsuranceEffective: July 1, 2007
Effective: July 1, 2007
MD Code, Insurance, § 16-602
§ 16-602. Investments of segregated asset accounts
(a)(1) A segregated asset account may invest in any investments contractually permitted for the segregated asset account and specified in a plan of operation, and the restrictions, limitations, and other provisions of this article relating to investments shall not apply to the investments contained in the segregated asset account, provided that prior to delivery or issuance for delivery in the State, the form of the policy or annuity contract and the plan of operation have been filed with and approved by the Commissioner.
(b) The investments of a segregated asset account shall comply with the regulations of the Commissioner.
(c) To the extent provided under the applicable contracts, the part of the assets of a segregated asset account equal to the reserves and other contract liabilities with respect to the account may not be chargeable with liabilities arising out of any other business that the insurer may conduct.
Credits
Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997. Amended by Acts 1999, c. 569, § 1, eff. Oct. 1, 1999; Acts 2007, c. 22, § 1, eff. July 1, 2007; Acts 2007, c. 23, § 1, eff. July 1, 2007.
Formerly Art. 48A, § 362.
MD Code, Insurance, § 16-602, MD INSURANCE § 16-602
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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