§ 5-504
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/md/insurance/5-504A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§5–504.
(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.