1. (a)

   1. (1) Except as provided in subsection (b) of this section, within 3 years after a domestic insurer ends its control of a subsidiary, the domestic insurer shall dispose of all investments in the subsidiary that were made under § 7-202 of this subtitle.
   2. (2) The Commissioner may extend the time for disposal of the investments.

2. (b) A domestic insurer is not required to dispose of an investment under subsection (a) of this section if, after the investment is made:

   1. (1) the investment meets the requirements for investment under another provision of this article; and
   2. (2) the domestic insurer notifies the Commissioner that the investment meets the other requirements.

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.

Formerly Art. 48A, § 493.