§ 5–701
Statutes in effect as of October 1, 2026.
Md. Code Ann., Ins. § 5-701 (2026)
Title 5. Assets, Liabilities, Reserves, and Investments of Insurers
Subtitle 7. Administration of Deposits
§ 5–701LinkCopy Citation
(a)
When made through the Commissioner by insurers or health maintenance organizations, the Treasurer shall accept and hold in trust:
(1)
deposits required under this article for a certificate of authority to engage in the insurance business in the State;
(2)
deposits required under § 19-710(d)(3) of the Health - General Article for a certificate of authority to operate as a health maintenance organization;
(3)
deposits of domestic insurers, foreign insurers, or alien insurers required under the laws of another state, province, or country as a prerequisite for authority to engage in the insurance business in the other state, province, or country;
(4)
deposits allowed under § 5-704 of this subtitle; and
(5)
deposits required under Title 6, Subtitle 3 of this article.
(b)
Deposits made under subsection (a) of this section shall be in any combination of:
(1)
cash; or
(2)
the government securities described in § 5-510(b) or § 5-607(b)(1)(i), (ii), or (iii) of this title, as approved by the Treasurer.
(c)
Deposits of government securities shall be registered, both as to principal and interest, in the name of the Treasurer as trustee.