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§ 5-503. Date of eligibility of investment

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 5. Assets, Liabilities, Reserves, and Investments of Insurers
Subtitle 5. Investments of Life Insurers (Refs & Annos)
MD Code, Insurance, § 5-503
§ 5-503. Date of eligibility of investment
Currentness
In general
(a) The eligibility of an investment shall be determined as of the date of the making or acquisition of the investment.
Investment limitations
(b) An investment limitation that is based on the amount of assets or particular funds of a life insurer shall relate to those assets or funds as shown by:
(1) the annual statement of the life insurer as of the December 31 immediately preceding the date of acquisition of the investment by the life insurer; or
(2) a current financial statement of the life insurer that reflects the result of merger or consolidation with another insurer, bulk reinsurance, or change in capitalization.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 88.
MD Code, Insurance, § 5-503, MD INSURANCE § 5-503
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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