Md. Code, Insurance § 7-203
This is the official text of Md. Code, Insurance § 7-203, part of Maryland’s Code, Insurance — regulates insurance companies and the policies they sell.
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§7–203.
Official statutory text
(a) (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.
(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.
Status: in_force · Read it on the official government site
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