§ 5-504. General qualifications of investments

Latest version.

   (a) Purchase at price above market value. -- A life insurer may not purchase an investment or security at a price above its market value.

(b) Control of another insurer. -- Subsection (a) of this section does not prohibit a life insurer from acquiring control of another insurer.

(c) Acquisition as dividend or distribution or under agreement. -- This subtitle does not prohibit a life insurer from acquiring other or additional securities or property that is received:

   (1) as a dividend;

   (2) as a lawful distribution of assets; or

   (3) under a lawful and bona fide agreement of bulk reinsurance, merger, or consolidation.

HISTORY: An. Code 1957, art. 48A, § 89; 1995, ch. 36.

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');