§ 5-704. Excess deposits

Latest version.

   (a) In general. -- An insurer may deposit cash or government securities eligible for deposit under § 5-701(b) of this subtitle in an amount greater than any deposit required or allowed under this article.

(b) Release. --

   (1) All or part of an excess deposit may be released to a solvent insurer on its request as provided in § 5-708(a)(2) of this subtitle.

   (2) An excess deposit may be released to an insolvent insurer only as provided in § 5-708(a)(3) of this subtitle.

HISTORY: An. Code 1957, art. 48A, § 113; 1995, ch. 36.

                    
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