2013 Maryland Code
ECONOMIC DEVELOPMENT
§ 6-520 - Prohibitions of purchaser or affiliate.


MD Econ Dev Code § 6-520 (2013) What's This?

§6-520.

(a) An insurance company or affiliate may not directly or indirectly:

(1) manage a venture firm;

(2) beneficially own, through rights, options, convertible interests, or otherwise, more than 15% of the voting securities or other voting ownership interest of a venture firm; or

(3) control the direction of investments for a venture firm.

(b) Subsection (a) of this section applies whether or not the insurance company or affiliate is authorized to do business in the State.

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