Md. Code Ann., Econ. Dev. § 10-4A-18
Insurance companies or affiliates
Effective Oct 1, 2020Added as Economic Development § 6-520 by Acts 2011, c. 409, § 1, eff. July 1, 2011. Amended by Acts 2013, c. 175, § 1, eff. May 2, 2013. Renumbered as Economic Development § 10-490 by Acts 2015, c. 141, § 2, eff. Oct. 1, 2015. Renumbered as Economic Development § 10-4A-18 by Acts 2020, c. 580, § 1, eff. Oct. 1, 2020.State of Maryland
(a) A purchaser 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 purchaser or affiliate is authorized to do business in the State.
Added as Economic Development § 6-520 by Acts 2011, c. 409, § 1, eff. July 1, 2011. Amended by Acts 2013, c. 175, § 1, eff. May 2, 2013. Renumbered as Economic Development § 10-490 by Acts 2015, c. 141, § 2, eff. Oct. 1, 2015. Renumbered as Economic Development § 10-4A-18 by Acts 2020, c. 580, § 1, eff. Oct. 1, 2020.