(a) Each insurer shall dispose of any investments acquired in violation of the law in force on the date of acquisition of the investment.
(b) In any determination of the financial condition of an insurer with investments acquired in violation of the law, the amount of the value of investments, if wholly ineligible, or the amount of the value of the investments in excess of any limitation prescribed by this subtitle, shall be deducted as a nonadmitted asset of the insurer.
Structure Maryland Statutes
Title 5 - Assets, Liabilities, Reserves, and Investments of Insurers
Subtitle 6 - Investments of Insurers Other Than Life Insurers
Section 5-601 - Scope of Subtitle
Section 5-602 - Investments of Foreign or Alien Insurers
Section 5-603 - Date When Eligibility of Investment Determined
Section 5-604 - Authorization of Investments and Loans
Section 5-605 - Prohibited Investments and Loans
Section 5-606 - Limitation on Amount of Investments
Section 5-607 - Investment Requirements