Maryland § 5-602
Full text of Maryland Maryland Code § 5-602, with citation guidance and answers to common questions.
§ 5-602.
(a) For the purposes of this section, the domicile in the United States of an alien insurer, other than an insurer formed under the laws of Canada, is deemed to be the state where the alien insurer maintains its largest deposit of trusteed assets.
(b) The investment portfolio of a foreign insurer or alien insurer, other than a life insurer, shall be:
(1) as allowed by the laws of its domicile; and
(2) of a quality substantially as high as that required under this subtitle for similar funds of like domestic insurers.
(c) The Commissioner may deny or refuse to renew a certificate of authority to a foreign insurer or alien insurer if:
(1) the foreign insurer or alien insurer has investments in one person in excess of the limit provided in § 5-606 of this subtitle; or
(2) the Commissioner finds that its investments do not comply in substance with the investment requirements and limitations of this subtitle for domestic insurers transacting the same kind of insurance business.
Frequently Asked Questions About Maryland § 5-602
What does Maryland Code § 5-602 cover?
Section 5-602 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 5-602?
A common citation format is "Maryland Code § 5-602" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 5-602 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.