Md. Code, Insurance § 5-604
Md. Code, Insurance § 5-604
in effect(a) An insurer may not make an investment or loan unless the investment or loan is authorized by:
(1) the board of directors of the insurer; or
(2) a committee authorized by the board of directors of the insurer to supervise or make investments and loans.
(b) The committee described in subsection (a)(2) of this section shall:
(1) record its minutes; and
(2) submit regular reports of the committee to the board of directors.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gin§ion=5-604&enactments=falseFetched: 10/17/2026