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2017 Maryland Code
Insurance
Title 27 - Unfair Trade Practices and Other Prohibited Practices
Subtitle 2 - Unfair Methods of Competition and Unfair and Deceptive Acts or Practices
§ 27-215. Interlocking ownership or management
Universal Citation: MD Ins Code § 27-215 (2017)
- (a) In general. -- An insurer may retain, invest in, or acquire all or part of the capital stock of another insurer or have common management with another insurer, unless the retention, investment, acquisition, or common management is inconsistent with another provision of this article or causes the business of the insurers with the public to be conducted in a manner that substantially lessens competition generally in the insurance business or tends to create a monopoly in the insurance business.
- (b) Common directors. -- An individual otherwise qualified may be director of two or more insurers that are competitors, unless the effect substantially lessens competition between insurers generally or tends materially to create a monopoly.
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