§ 5-505. Investment plans
West's Annotated Code of MarylandInsurance
MD Code, Insurance, § 5-505
§ 5-505. Investment plans
(b)(1) The board shall adopt a written plan for:
(c)(1) The board shall supervise and direct any investments acquired and held under this subtitle.
(2) At least annually, the board by formal resolution shall determine whether all investments have been made in accordance with delegations, standards, limitations, and investment objectives prescribed by the board or committee charged with the responsibility of directing the life insurer's investments.
(d) In order to determine whether the investment activity of the life insurer is consistent with the plan required under subsection (b) of this section, on at least a quarterly basis, the board or committee shall:
(e) In the discharge of duties under this section:
Credits
Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 2003, c. 193, § 2, eff. Oct. 1, 2003.
Formerly Art. 48A, § 90.
MD Code, Insurance, § 5-505, MD INSURANCE § 5-505
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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