<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".04" citation="COMAR 31.09.07.04" title_num="31" subtitle_num="09" chapter_num="07" heading="Investment Requirements.">
  <paragraph num="A.">
    <text>The reserve assets shall be segregated.</text>
  </paragraph>
  <paragraph num="B.">
    <text>The segregated reserve assets shall be invested in the same manner and subject to the same standards as are applicable under Estates and Trust Article, §15-402, Annotated Code of Maryland.</text>
  </paragraph>
  <paragraph num="C.">
    <text>The general assets of the organization shall be liable for annuity agreements to the extent that the segregated fund is inadequate.</text>
  </paragraph>
</regulation>