Maryland § 5-701
Full text of Maryland Maryland Code § 5-701, with citation guidance and answers to common questions.
§ 5-701.
(a) When made through the Commissioner by insurers or health maintenance organizations, the Treasurer shall accept and hold in trust:
(1) deposits required under this article for a certificate of authority to engage in the insurance business in the State;
(2) deposits required under § 19-710(d)(3) of the Health - General Article for a certificate of authority to operate as a health maintenance organization;
(3) deposits of domestic insurers, foreign insurers, or alien insurers required under the laws of another state, province, or country as a prerequisite for authority to engage in the insurance business in the other state, province, or country;
(4) deposits allowed under § 5-704 of this subtitle; and
(5) deposits required under Title 6, Subtitle 3 of this article.
(b) Deposits made under subsection (a) of this section shall be in any combination of:
(1) cash; or
(2) the government securities described in § 5-510(b) or § 5-607(b)(1)(i), (ii), or (iii) of this title, as approved by the Treasurer.
(c) Deposits of government securities shall be registered, both as to principal and interest, in the name of the Treasurer as trustee.
Frequently Asked Questions About Maryland § 5-701
What does Maryland Code § 5-701 cover?
Section 5-701 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 § 5-701?
A common citation format is "Maryland Code § 5-701" (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 § 5-701 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.