§ 7-203
110 words·~1 min read·
/md/insurance/7-203A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§7–203.
(1)Except as provided in subsection
(b)of this section, within 3 years after a domestic insurer ends its control of a subsidiary, the domestic insurer shall dispose of all investments in the subsidiary that were made under § 7-202 of this subtitle.
(2)The Commissioner may extend the time for disposal of the investments.
(b)A domestic insurer is not required to dispose of an investment under subsection
(a)of this section if, after the investment is made:
(1)the investment meets the requirements for investment under another provision of this article; and
(2)the domestic insurer notifies the Commissioner that the investment meets the other requirements.