COMAR 31.05.10.08. Collateral

MarylandRegulations

Ask Donna

How this section applies to your facts.

Code of Maryland Regulations › Title 31 MARYLAND INSURANCE ADMINISTRATION › Subtitle 05 ASSETS, LIABILITIES, RESERVES, AND INVESTMENTS OF INSURERS › Chapter 10 Financial Guaranty Insurance › COMAR 31.05.10.08

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

Text

Collateral shall be:

A. Deposited with the financial guaranty insurer;

B. Held in trust by a trustee or custodian acceptable to the Commissioner for the benefit of the financial guaranty insurer; or

C. Held in trust pursuant to the bond indenture or other trust arrangement for the benefit of security holders in the form of funds for the payment of insured obligations, sinking funds, or other reserves that may be used to pay the insured obligations and trustee and other administrative fees on a first priority basis established and continually maintained pursuant to the bond indenture or other trust arrangement by a trustee acceptable to the Commissioner.

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.