Maryland Insurance Section 5-504

      (a)      A life insurer may not purchase an investment or security at a price above its market value.

      (b)      Subsection (a) of this section does not prohibit a life insurer from acquiring control of another insurer.

      (c)      This subtitle does not prohibit a life insurer from acquiring other or additional securities or property that is received:

            (1)      as a dividend;

            (2)      as a lawful distribution of assets; or

            (3)      under a lawful and bona fide agreement of bulk reinsurance, merger, or consolidation.