Section 5-606 - Limitation on amount of investments. - Maryland Statutes

§ 5-606. Limitation on amount of investments.
 

(a)  Investment in one person.-  

(1) Except as otherwise specifically provided in this subtitle, an insurer may not have more than 10% of its total admitted assets invested in or lent on the securities of one person. 

(2) Paragraph (1) of this subsection does not apply to: 

(i) the classes of governmental obligations eligible for minimum capital investments of the insurer, including those obligations eligible under § 5-608(l) of this subtitle; or 

(ii) investments in stock of other insurers. 

(b)  Acquisition of real property.- An insurer may not acquire the kind of real property specified in § 5-608(n)(1)(i) and (ii) of this subtitle if the value of the real property, plus the value of all of the real property then held by the insurer, exceeds 10% of the insurer's total admitted assets. 
 

[An. Code 1957, art. 48A, § 101; 1995, ch. 36.]