Md. Code Regs. 31.09.10.03 - Investment Requirements
A. Application of Insurance Article, §
5-511, Annotated Code of Maryland.
(1) Subject to §A(2) of this regulation, and Insurance Article, §
16-113(d)(3), Annotated Code of Maryland, amounts allocated to a separate account and any resulting accumulations shall be invested and reinvested in accordance with the classes of investments, and the limitations on classes of investments, set forth in Insurance Article, §
5-511, Annotated Code of Maryland.
(2) For the purpose of applying Insurance Article, §
5-511, Annotated Code of Maryland, pursuant to §A(1) of this regulation, separate account assets shall be treated as admitted assets and be subject to the requirements and limitations of Insurance Article, §
5-511, Annotated Code of Maryland, that apply to admitted assets.
B. Notwithstanding §A of this regulation, amounts allocated to a separate account and any resulting accumulations are not subject to the requirements and limitations set forth in Insurance Article, §
5-511, Annotated Code of Maryland if the insurer obtains:
(1) Prior approval from the Commissioner for the amounts not to be subject to the requirements and limitations set forth in Insurance Article, §
5-511, Annotated Code of Maryland; and
(2) Written consent of the holder of the funding agreement to the terms of the investment policy for the separate account.
Notes
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