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§ 5-507. Investments or loans on security of obligations, property, or securities of one person...

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, § 5-507
§ 5-507. Investments or loans on security of obligations, property, or securities of one person prohibited
Currentness
Application of section
(a) This section does not apply to:
(1) policy loans made under this subtitle; or
(2) general obligations of the United States, Canada, or a state.
Investment restrictions
(b) Unless the Commissioner approves, a life insurer may not have at one time any combination of investments in or loans on the security of the obligations, property, or securities of one person in an aggregate amount exceeding 10% of the admitted assets of the life insurer.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 92.
MD Code, Insurance, § 5-507, MD INSURANCE § 5-507
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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