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31.04.13.00.htm 31.04.13.00. Title 31 MARYLAND INSURANCE ADMINISTRATION Subtitle 04 INSURERS Chapter 13 Insurance-Producer-Controlled Business Authority: Insurance Article, §2-109, 4-116(b) 7-605, 7-701―7-704, and 10-126, Title 7, Subtitle 1, and Title 8, Subtitle 1, Annotated Code of Maryland
31.04.13.01.htm 31.04.13.01. 01 Applicability.. These regulations are applicable to the written contract provisions that are required within an insurance-producer-controlled holding company system involving a controlling insurance producer and a controlled authorized insurer that issues policies covered by the Property and Casualty Insurance Guaranty Corporation.
31.04.13.02.htm 31.04.13.02. 02 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) "Comparable business" includes the same lines and kinds of insurance, same kinds of risks, similar policy limits, and similar quality of business.2) "Control" including the terms "controlling" "controlled by" and "under common control with" has the meaning stated in Insurance Article, §8-101(b) Annotated Code of Maryland.3) "Insurance holding company system" has the mean
31.04.13.03.htm 31.04.13.03. 03 Terms of Contract.. A. The terms of the contract required under this regulation between a controlling insurance producer and a controlled insurer within an insurance-producer-controlled holding company system shall comply with §B of this regulation.B. The contract required under this regulation shall provide at a minimum that:. 1) The controlled insurer may:. a) Terminate the contract for cause upon written notice to the controlling insurance producer; and.
31.04.13.9999.htm 31.04.13.9999. Administrative History Effective date:. Regulations .01―03 adopted as an emergency provision effective September 15, 1993 (20:20 Md. R. 1557) adopted permanently effective December 20, 1993 (20:25 Md. R. 1945) ―Chapter recodified from COMAR 09.30.98 to COMAR 31.04.13, July 1998. Regulation .01 amended effective January 15, 2007 (34:1 Md. R. 32). Regulation .03 amended effective January 15, 2007 (34:1 Md. R. 32).
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