§7–203.

    (a)    (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)    The Commissioner may extend the time for disposal of the investments.

    (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)    the investment meets the requirements for investment under another provision of this article; and

        (2)    the domestic insurer notifies the Commissioner that the investment meets the other requirements.