§ 5–504

Statutes in effect as of October 1, 2026.

Md. Code Ann., Ins. § 5-504 (2026)

Title 5. Assets, Liabilities, Reserves, and Investments of Insurers

Subtitle 5. Investments of Life Insurers

(a)

A life insurer may not purchase an investment or security at a price above its market value.

(b)

Subsection (a) of this section does not prohibit a life insurer from acquiring control of another insurer.

(c)

This subtitle does not prohibit a life insurer from acquiring other or additional securities or property that is received:

(1)

as a dividend;

(2)

as a lawful distribution of assets; or

(3)

under a lawful and bona fide agreement of bulk reinsurance, merger, or consolidation.