{"data":{"id":"us-md/md.-code-insurance-5-506","jurisdiction":"us-md","citation":"Md. Code, Insurance § 5–506","heading":"","body":"(a) In addition to investments otherwise excluded under this article, a life insurer may not directly or indirectly invest in or lend its funds on the security of:\n(1) an investment or security that the Commissioner finds is designed to evade a prohibition of this article; or\n(2) issued shares of the life insurer’s capital stock, except:\n(i) for the purpose of mutualization under Title 3, Subtitle 1 of this article; or\n(ii) in connection with a plan approved by the Commissioner for purchase of the shares by employees or insurance producers of the life insurer.\n(b) A life insurer may not directly or indirectly make a loan to an officer or director of the life insurer, except:\n(1) a policy loan; or\n(2) a bona fide mortgage loan on the principal residence of the officer or director that has been approved or ratified by the board of directors of the life insurer.","path":["Article - Insurance"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gin\u0026section=5-506","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:28Z","sha256":"fa84498f4430af7dd6b5d67086355d81363205bd5de519a1e5437d89d85301b8","source_id":"us-md","stale":false,"prev":"us-md/md.-code-insurance-5-505","next":"us-md/md.-code-insurance-5-507"},"notice":"GroundRules: Original legal text. Not legal advice."}