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§ 27-215. Interlocking ownership or common management between insurers

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 27. Unfair Trade Practices and Other Prohibited Practices (Refs & Annos)
Subtitle 2. Unfair Methods of Competition and Unfair and Deceptive Acts or Practices (Refs & Annos)
MD Code, Insurance, § 27-215
§ 27-215. Interlocking ownership or common management between insurers
In general
(a) An insurer may retain, invest in, or acquire all or part of the capital stock of another insurer or have common management with another insurer, unless the retention, investment, acquisition, or common management is inconsistent with another provision of this article or causes the business of the insurers with the public to be conducted in a manner that substantially lessens competition generally in the insurance business or tends to create a monopoly in the insurance business.
Individuals as directors at two or more insurers that are competitors
(b) An individual otherwise qualified may be director of two or more insurers that are competitors, unless the effect substantially lessens competition between insurers generally or tends materially to create a monopoly.

Credits

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997.
Formerly Art. 48A, § 229.
MD Code, Insurance, § 27-215, MD INSURANCE § 27-215
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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