§5–504.
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MD Code › Article gin › Title 5 › Subtitle 5 › Section 5-504
Text
(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.
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