Md. Code, Insurance § 5-604
This is the official text of Md. Code, Insurance § 5-604, part of Maryland’s Code, Insurance — regulates insurance companies and the policies they sell.
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§5–604.
Official statutory text
(a) An insurer may not make an investment or loan unless the investment or loan is authorized by:
(1) the board of directors of the insurer; or
(2) a committee authorized by the board of directors of the insurer to supervise or make investments and loans.
(b) The committee described in subsection (a)(2) of this section shall:
(1) record its minutes; and
(2) submit regular reports of the committee to the board of directors.
(1) the board of directors of the insurer; or
(2) a committee authorized by the board of directors of the insurer to supervise or make investments and loans.
(b) The committee described in subsection (a)(2) of this section shall:
(1) record its minutes; and
(2) submit regular reports of the committee to the board of directors.
Status: in_force · Read it on the official government site
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