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31.09.13.00.htm 31.09.13.00. Title 31 MARYLAND INSURANCE ADMINISTRATION Subtitle 09 LIFE INSURANCE AND ANNUITIES Chapter 13 Military Sales Practices Authority: Insurance Article, §27-101, et seq. Title 27; Annotated Code of Maryland
31.09.13.01.htm 31.09.13.01. 01 Purpose.. A. The purpose of this chapter is to set forth standards to protect active duty service members of the United States Armed Forces from dishonest and predatory insurance sales practices by declaring certain identified practices to be false, misleading, deceptive, or unfair.B. Nothing in this chapter may be construed to create or imply a private cause of action for a violation of this chapter.
31.09.13.02.htm 31.09.13.02. 02 Scope.. This chapter applies only to the solicitation or sale of any life insurance or annuity product by an insurer or insurance producer to an active duty service member of the United States Armed Forces.
31.09.13.03.htm 31.09.13.03. 03 Incorporation by Reference.. In this chapter, the following documents are incorporated by reference:. A. 38 U.S.C. §1965 et seq. (2007). B. Internal Revenue Code, 26 U.S.C. §501(c)23) (2007). C. Department of Defense DoD Instruction 1344.07―Personal Commercial Solicitation on DoD Installations (March 30, 2006)D. Truth in Savings Act, 12 U.S.C. §4301 et seq. (2007) and the regulations promulgated under it; and
31.09.13.04.htm 31.09.13.04. 04 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) Active Duty.. a) "Active duty" means full-time duty in the active military service of the United States and includes members of the reserve component, National Guard and Reserve, while serving under published orders for active duty or full-time training.b) "Active duty" does not include members of the reserve component who are performing active duty or
31.09.13.05.htm 31.09.13.05. 05 Exemptions.. A. This chapter does not apply to solicitations or sales involving:. 1) Credit insurance;. 2) Group life insurance or group annuities where there is no in-person, face-to-face solicitation of individuals by an insurance producer or where the contract or certificate does not include a side fund;3) An application to the existing insurer that issued the existing policy or contract when:. a) A contractual change or a conversion privilege is being exercised;.
31.09.13.06.htm 31.09.13.06. 06 Practices Declared False, Misleading, Deceptive, or Unfair on a Military Installation.. A. The following acts or practices when committed on a military installation by an insurer or insurance producer with respect to the in-person, face-to-face solicitation of life insurance or annuity are prohibited as false, misleading, deceptive, or unfair:1) Knowingly soliciting the purchase of any life insurance product or annuity door-to-door or without first establishing a sp
31.09.13.07.htm 31.09.13.07. 07 Practices Declared False, Misleading, Deceptive, or Unfair Regardless of Location.. A. The following acts or practices by an insurer or insurance producer constitute corrupt practices, improper influences, or inducements, regardless of location, and therefore, are prohibited as false, misleading, deceptive, or unfair:1) Submitting, processing, or assisting in the submission or processing of any allotment form or similar device used by the United States Armed Forces
31.09.13.08.htm 31.09.13.08. 08 Severability.. If any provision of this chapter or the application thereof to any person or circumstance is held invalid for any reason, the invalidity does not affect the other provisions or any other application of these sections which can be given effect without the invalid provisions or application. To this end all provisions of this chapter are declared to be severable.
31.09.13.09.htm 31.09.13.09. 09 Effective Date.. This chapter is effective May 1, 2008, and shall apply to acts or practices committed on or after the effective date.
31.09.13.9999.htm 31.09.13.9999. Administrative History Effective date: May 1, 2008 (35:3 Md. R. 290).
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