Bankruptcy Exemption Citations
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Exemption: Perpetual care trust funds

Citation: Stat. - Md. Code Ann., [Bus. Reg.] § 5-603

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Md. Code Ann., [Bus. Reg.] § 5-603 :
§ 5-603. Date when eligibility of investment determined

(a) In general. -- The eligibility of an investment shall be determined as of the date of the making or acquisition of the investment.

(b) Investment limitations. -- An investment limitation that is based on the amount of assets or particular funds of an insurer shall relate to the assets or funds as shown by:

(1) the annual statement of the insurer as of the December 31 immediately preceding the date of acquisition of the investment by the insurer; or

(2) a current financial statement of the insurer filed with the Commissioner that reflects the result of merger or consolidation with another insurer, bulk reinsurance, or change in capitalization.
Last Amended: 2007
2007
Added as Business Regulation � 5-303 by Acts 1992, c. 4, � 2. Renumbered as Business Regulation � 5-602 by Acts 1997, c. 675, � 1, eff. July 1, 1997; Acts 1997, c. 675, � 2, eff. Oct. 1, 1997; Acts 2001, c. 186, � 2, eff. Oct. 1, 2001. Amended by Acts 2002, c. 195, � 1, eff. July 1, 2002; Acts 2006, c. 348, � 1, eff. Oct. 1, 2006. Renumbered as Business Regulation � 5-603 by Acts 2007, c. 348, � 2, eff. July 1, 2007. Amended by Acts 2007, c. 348, � 2, eff. July 1, 2007.
HISTORY: An. Code 1957, art. 48A, § 99; 1995, ch. 36.
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