State Codes and Statutes
Statutes > Maryland > Insurance > Title-7 > Subtitle-2 > 7-203§ 7-203. Disposal of investments when control ends.
(a) Required.-
(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) Exception.- 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.
[An. Code 1957, art. 48A, § 493; 1995, ch. 36.]
