(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.
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