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§ 5-704. Excess deposits

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 7. Administration of Deposits (Refs & Annos)
MD Code, Insurance, § 5-704
§ 5-704. Excess deposits
Currentness
In general
(a) An insurer may deposit cash or government securities eligible for deposit under § 5-701(b) of this subtitle in an amount greater than any deposit required or allowed under this article.
Release of excess deposits to solvent or insolvent insurers
(b)(1) All or part of an excess deposit may be released to a solvent insurer on its request as provided in § 5-708(a)(2) of this subtitle.
(2) An excess deposit may be released to an insolvent insurer only as provided in § 5-708(a)(3) of this subtitle.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 113.
MD Code, Insurance, § 5-704, MD INSURANCE § 5-704
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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