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31.03.12.00.htm 31.03.12.00. Title 31 MARYLAND INSURANCE ADMINISTRATION Subtitle 03 INSURANCE PRODUCERS AND OTHER INSURANCE PROFESSIONALS Chapter 12 Procedures ― Written Consent ― Federal Law Authority: Insurance Article, §2-109(e) Annotated Code of Maryland
31.03.12.01.htm 31.03.12.01. 01 Purpose.. The purpose of this chapter is to establish procedures and requirements for individuals who are required by 18 U.S.C. §1033 to obtain written consent from the Commissioner before the individuals may engage in the business of insurance in the State.
31.03.12.02.htm 31.03.12.02. 02 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) "Application counselor" has the meaning stated in Insurance Article, §31-101(a-1) Annotated Code of Maryland.2) Application Form.. a) "Application form" means a standardized application form developed by the Insurance Administration for submission by individuals applying for a written consent to engage in the business of insurance in the State under this chapter.
31.03.12.03.htm 31.03.12.03. 03 Written Consent Required.. A. Scope. This regulation applies to the following individuals:. 1) An officer, director, or employee of a domestic insurer;. 2) An individual who performs substantial insurance-related activities for a domestic insurer or a resident licensee, including:a) An insurance producer;. b) A third-party administrator;. c) An independent contractor;. d) An actuary;. e) A reinsurer;. f) An underwriter; and. g) An adjuster; and. 3) An individual who main
31.03.12.04.htm 31.03.12.04. 04 Application for Written Consent.. A. In General. An individual who is required to obtain written consent to engage in the business of insurance shall comply with the requirements of this regulation.B. Application Form.. 1) Except as provided in §B(2) of this regulation, an applicant for written consent shall submit the short application form to the Commissioner.2) An applicant for written consent shall submit the comprehensive application form to the Commissioner if:
31.03.12.05.htm 31.03.12.05. 05 Review of Application.. A. In General. On receipt of an application for written consent and the required accompanying information, the Commissioner shall review the application and information in accordance with this regulation to determine if the applicant should be granted written consent to engage in the business of insurance in the State.B. Notification of NAIC Members.. 1) On receipt of an application for written consent, the Commissioner shall notify all other members
31.03.12.06.htm 31.03.12.06. 06 Grant of Written Consent.. A. In General. If the Commissioner decides to grant the applicant's request for written consent, the Commissioner shall issue a written consent to the applicant.B. Scope of Written Consent.. 1) The written consent shall be:. a) Specific as to job duties; and. b) Conditioned on the individual remaining in a position with substantially similar duties.. 2) If an individual who holds a written consent wishes to engage in additional duties within the bus
31.03.12.07.htm 31.03.12.07. 07 Denial of Written Consent.. A. Order. If the Commissioner denies the applicant's request for written consent, the Commissioner shall issue an order that:1) States that the request is denied; and. 2) Explains the reasons for the denial.. B. Licensing Prohibited. An applicant who has been denied a written consent may not be granted or continue to hold a license or certificate of qualification to engage in the business of insurance in Maryland.C. Notification of NAIC M
31.03.12.08.htm 31.03.12.08. 08 Hearing.. The Commissioner shall hold a hearing in accordance with Insurance Article, §2-210, Annotated Code of Maryland, on the demand of any applicant who is aggrieved by:A. The denial of written consent by the Commissioner; or. B. The scope of a written consent issued by the Commissioner..
31.03.12.09.htm 31.03.12.09. 09 Subsequent Conviction.. A. Written Consent Invalidated Immediately. If an individual who has been granted written consent is subsequently convicted of a felony, the written consent of the individual is invalidated immediately without the necessity of any further action by the Commissioner.B. Notification. An individual who has been granted written consent and is subsequently convicted of a felony shall:1) Immediately notify the Commissioner, the individual's employer, and any
31.03.12.9999.htm 31.03.12.9999. Administrative History Effective date: June 24, 2002 (29:12 Md. R. 934). Regulation .02B amended effective April 15, 2013 (40:7 Md. R. 613). Regulation .02B amended as an emergency provision effective October 11, 2013 (40:22 Md. R. 1875) amended permanently effective January 6, 2014 (40:26 Md. R. 2166)Regulation .03A amended effective April 15, 2013 (40:7 Md. R. 613). Regulation .03A amended as an emergency provision effective October 11, 2013 (40:22 Md. R. 1875) ame
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