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<section article="gin" article_name="Insurance" number="5-504" title_number="5" title_name="Assets, Liabilities, Reserves, and Investments of Insurers" subtitle_number="5" subtitle_name="Investments of Life Insurers">
  <level label="a">
    <text>A life insurer may not purchase an investment or security at a price above its market value.</text>
  </level>
  <level label="b">
    <text>Subsection (a) of this section does not prohibit a life insurer from acquiring control of another insurer.</text>
  </level>
  <level label="c">
    <text>This subtitle does not prohibit a life insurer from acquiring other or additional securities or property that is received:</text>
    <level label="1">
      <text>as a dividend;</text>
    </level>
    <level label="2">
      <text>as a lawful distribution of assets; or</text>
    </level>
    <level label="3">
      <text>under a lawful and bona fide agreement of bulk reinsurance, merger, or consolidation.</text>
    </level>
  </level>
</section>
