{"data":{"id":"us-md/md.-code-insurance-9-229","jurisdiction":"us-md","citation":"Md. Code, Insurance § 9–229","heading":"","body":"(a) Except as provided in subsection (b) of this section, in all cases of mutual debts and credits between an insurer and another person in connection with a delinquency proceeding, the debts and credits shall be offset and the balance only shall be allowed or paid.\n(b) An offset may not be allowed in favor of another person if:\n(1) on the date of issuance of a liquidation order or otherwise, as specified in § 9-228(e) of this subtitle, the obligation of the insurer to the person would not entitle the person to share as a claimant in the assets of the insurer;\n(2) the obligation of the insurer to the person was purchased by or transferred to the person for use as an offset; or\n(3) the obligation of the person is to pay:\n(i) an assessment imposed on the members of a mutual insurer or the subscribers of a reciprocal insurer; or\n(ii) a balance on the subscription to the capital stock of a stock insurer.","path":["Article - Insurance"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gin\u0026section=9-229","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:28Z","sha256":"06e03809fb0011f2a9d5ad9e6a23a1c90666e043ca2805bc0cd5659462ea8c89","source_id":"us-md","stale":false,"prev":"us-md/md.-code-insurance-9-228","next":"us-md/md.-code-insurance-9-229.1"},"notice":"GroundRules: Original legal text. Not legal advice."}