Source: https://law.justia.com/codes/maryland/2013/article-gin/section-14-120/
Timestamp: 2020-06-02 03:22:08
Document Index: 239484642

Matched Legal Cases: ['§ 14', '§ 14', '§ 14', '§ 14', '§14', '§ 5', '§ 14']

§ 14-120 - Investments :: 2013 Maryland Code :: US Codes and Statutes :: US Law :: Justia
Justia US Law US Codes and Statutes Maryland Code 2013 Maryland Code INSURANCE § 14-120 - Investments
§ 14-120 - Investments
MD Ins Code § 14-120 (2013) What's This?
§14-120.
(a) In this section, “group health care” means a practice by which an affiliate or subsidiary of a nonprofit health service plan engages the services of health care specialists who provide health care at predetermined locations in accordance with a prepaid health plan.
(b) (1) Except as provided in paragraph (2) of this subsection, a corporation subject to this subtitle may invest its funds only in assets allowed for the investment of the funds of life insurers under §§ 5-101 and 5-102 and Title 5, Subtitle 5 of this article.
(2) If the Commissioner determines that a corporation subject to this subtitle is engaged principally in the business of group health care rather than the sale of an insurance product or plan described in § 14-102 of this subtitle, the Commissioner may allow the corporation to invest a sum not to exceed 50% of its assets in real estate for use as medical facilities and fixed medical equipment to be used solely for the purpose of engaging in group health care.