§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.