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§ 5-606. Restrictions relating to amount and type of investments

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 6. Investments of Insurers Other than Life Insurers (Refs & Annos)
MD Code, Insurance, § 5-606
§ 5-606. Restrictions relating to amount and type of investments
Currentness
Assets invested in or lent on securities of one person
(a)(1) Except as otherwise specifically provided in this subtitle, an insurer may not have more than 10% of its total admitted assets invested in or lent on the securities of one person.
(2) Paragraph (1) of this subsection does not apply to:
(i) the classes of governmental obligations eligible for minimum capital investments of the insurer, including those obligations eligible under § 5-608(l) of this subtitle; or
(ii) investments in stock of other insurers.
Acquisition of real property
(b) An insurer may not acquire the kind of real property specified in § 5-608(n)(1)(i) and (ii) of this subtitle if the value of the real property, plus the value of all of the real property then held by the insurer, exceeds 10% of the insurer's total admitted assets.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 101.
MD Code, Insurance, § 5-606, MD INSURANCE § 5-606
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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