Section 5-503 - Date when eligibility of investment determined. - Maryland Statutes

§ 5-503. Date when eligibility of investment determined.
 

(a)  In general.- The eligibility of an investment shall be determined as of the date of the making or acquisition of the investment. 

(b)  Investment limitations.- An investment limitation that is based on the amount of assets or particular funds of a life insurer shall relate to those assets or funds as shown by: 

(1) the annual statement of the life insurer as of the December 31 immediately preceding the date of acquisition of the investment by the life insurer; or 

(2) a current financial statement of the life insurer that reflects the result of merger or consolidation with another insurer, bulk reinsurance, or change in capitalization. 
 

[An. Code 1957, art. 48A, § 88; 1995, ch. 36.]