(a) To facilitate the rehabilitation, liquidation, conservation, or dissolution of an insurer under this subtitle, the Commissioner, subject to the approval of the court, may:
(1) borrow money;
(2) execute, acknowledge, and deliver notes or other evidences of indebtedness for the loan;
(3) secure the repayment of the loan by the mortgage, pledge, assignment, or transfer in trust of all or part of the property of the insurer; and
(4) take any other action necessary and proper to consummate the loan and to provide for its repayment.
(b) The Commissioner is not obligated personally or in an official capacity to repay a loan made under this section.
Structure Maryland Statutes
Subtitle 2 - Liquidation, Rehabilitation, Reorganization, and Conservation
Section 9-202 - Uniform Insurers Liquidation Act
Section 9-203 - Scope of Subtitle
Section 9-204 - Exclusiveness of Remedy
Section 9-205 - Immunity From Liability
Section 9-206 - Fees and Costs
Section 9-207 - Appointment of Staff
Section 9-208 - Persons Subject to Delinquency Proceedings
Section 9-209 - Jurisdiction and Venue
Section 9-210 - Commencement of Delinquency Proceedings
Section 9-211 - Grounds for Conservation, Rehabilitation, or Liquidation of Insurers
Section 9-212 - Orders to Rehabilitate, Liquidate, or Conserve Insurers
Section 9-213 - Appointed Receivers
Section 9-214 - Notice to Policyholders of Delinquency Proceeding
Section 9-215 - Seizure Orders; Injunctions
Section 9-216 - Appeals to Court of Special Appeals
Section 9-217 - Loans and Pledges of Assets
Section 9-218 - Administration of Assets of Domestic or Alien Insurers
Section 9-219 - Administration of Assets of Insurers Not Domiciled in State
Section 9-220 - Attachment or Garnishment of Assets
Section 9-221 - Voidable Transfers
Section 9-223 - Limitations on Insurer Pending Repayment to Guaranty Associations
Section 9-224 - Disbursements of Assets to Guaranty Associations
Section 9-225 - Assessment of Members or Subscribers of Mutual or Reciprocal Insurers
Section 9-226 - Procedures for Filing Claims
Section 9-227 - Priority of Claims
Section 9-228 - Disposition of Claims
Section 9-229.1 - Netting Agreements and Financial Contracts
Section 9-230 - Cooperation With Commissioner Required; Penalties
Section 9-231 - Notice of Impairment Required; Contributing to Impairment Prohibited; Penalties