Maryland Statutes
Insurance
Title 8 - Entities That Act as Insurers

Section 8-105 - Requirements for Placement of Business With Controlled Insurer - (a) In this section, “independent casualty actuary” means a casualty...

Section 8-106 - Placement or Acceptance of Business by Reinsurance Intermediary - (a) In this section, “reinsurance intermediary” means a person that...

Section 8-107 - Controlled Insurers - (a) (1) With respect to insurance business placed by its...

Section 8-108 - Records of Controlling Insurance Producer - The controlling insurance producer shall keep records sufficient to: (1)...

Section 8-109 - Violations of Subtitle - (a) If the Commissioner has reason to believe that a...

Subtitle 2 - Managing General Agents

Section 8-201 - Definitions - (a) In this subtitle the following words have the meanings...

Section 8-202 - Certificate of Qualification Required - A person must obtain a certificate of qualification before the...

Section 8-202.1 - Applicant Qualifications - An applicant for a certificate of qualification must be: (1)...

Section 8-203 - Applications for Certificate of Qualification - An applicant for a certificate of qualification shall: (1) file...

Section 8-204 - Issuance of Certificate of Qualification - The Commissioner shall issue a certificate of qualification to each...

Section 8-205 - Term and Renewal of Certificate of Qualification - (a) A certificate of qualification expires on the first June...

Section 8-206 - Denials, Refusals to Renew, Suspensions, and Revocations; Penalties - (a) The Commissioner shall deny or refuse to renew a...

Section 8-207 - Bond or Errors and Omissions Policy; Examination - (a) By regulation, the Commissioner may require a managing general...

Section 8-208 - Contract Between Managing General Agent and Insurer - (a) A managing general agent may not place business with...

Section 8-209 - Prohibited Activities of Managing General Agent - (a) A managing general agent may not: (1) commit the...

Section 8-210 - Duties of Insurer as to Managing General Agents - (a) (1) An insurer shall maintain independent financial examinations, in...

Section 8-211 - Acts of Managing General Agent Deemed Acts of Insurer; Insolvency of Managing General Agent - (a) The acts of a managing general agent are deemed...

Section 8-212 - Confidentiality of Contracts - (a) Unless the insurer to which a contract relates gives...

Section 8-213 - Submanaging General Agents to Comply With Subtitle - The Commissioner may require a submanaging general agent appointed by...

Subtitle 3 - Third Party Administrators

Section 8-301 - Definitions - (a) In this subtitle the following words have the meanings...

Section 8-302 - Regulations - The Commissioner may adopt regulations necessary to carry out this...

Section 8-303 - Registration Required - (a) A person must register with the Commissioner before the...

Section 8-304 - Qualifications of Applicants - (a) To register as an administrator, an applicant must present...

Section 8-305 - Applications for Registration - An applicant for registration shall: (1) file with the Commissioner...

Section 8-306 - Bonds - (a) The bond required for an administrator under this subtitle...

Section 8-307 - Issuance of Registration - The Commissioner shall register each applicant who meets the requirements...

Section 8-308 - Term and Renewal of Registration - (a) A registration expires 2 years from the date of...

Section 8-308.1 - Reinstatement of Registration - (a) Within 1 year after the expiration date, a person...

Section 8-309 - Denials, Refusals to Renew, Suspensions, and Revocations - (a) Subject to the hearing provisions of Title 2 of...

Section 8-310 - Administrator's Duties With Respect to Plan - An administrator shall discharge the administrator’s duties with respect to...

Section 8-311 - Agreement Between Administrator and Plan Sponsor or Insurer - (a) A person may not act as an administrator without...

Section 8-312 - Books and Records About Plan - (a) An administrator shall maintain adequate books and records about...

Section 8-313 - Notice to Pharmacies of Change in Pharmaceutical Benefits - (a) At least 30 days before the change is effective,...

Section 8-314 - Errors and Omissions Policy - On request of the Commissioner, an administrator shall submit to...

Section 8-315 - Waiver of Liability by Administrator Void; Liability Insurance - (a) A provision in an agreement or instrument that relates...

Section 8-316 - Prohibited Activities of Administrator - (a) With respect to a plan or the life insurer,...

Section 8-317 - Allowing Another to Act as Administrator in Violation of Subtitle - A person may not knowingly allow another person to act...

Section 8-318 - Discharging, Fining, Suspending, Expelling, Disciplining, or Discriminating Against Plan Participant or Beneficiary - (a) A person may not discharge, fine, suspend, expel, discipline,...

Section 8-319 - Investigations by Commissioner - (a) (1) A person aggrieved by the conduct of a...

Section 8-320 - Enforcement of Subtitle - (a) To enforce this subtitle and any regulation adopted under...

Section 8-321 - Liability of Administrator - (a) With respect to a plan or activities on behalf...

Section 8-321.1 - Third Party Administrator to Comply With 27-803 - A third party administrator shall comply with § 27–803 of...

Section 8-322 - Criminal Penalty - A person that intentionally violates this subtitle or a regulation...

Subtitle 4 - Fraternal Benefit Societies

Part I - Definitions; General Provisions

Section 8-401 - Definitions - (a) In this subtitle the following words have the meanings...

Section 8-402 - Society Deemed Fraternal Benefit Society - (a) (1) An incorporated society, order, or supreme lodge without...

Section 8-403 - Application of Subtitle and Other Insurance Laws - (a) (1) Except as otherwise provided in this section, societies...

Section 8-404 - Exempted Societies - (a) Except as provided in this section, this subtitle and...

Section 8-405 - Taxation of Societies - (a) A society organized or authorized to transact business under...

Section 8-406 - Retention of Powers by Existing Incorporated Societies - (a) An incorporated society authorized to transact insurance business in...

Section 8-407 - Service of Process - (a) (1) Each society authorized to do business in the...

Part II - Formation, Organization, and Authority to Do Business

Section 8-410 - Formation of Society - (a) Seven or more individuals, acting as incorporators, may form...

Section 8-411 - Articles of Incorporation of Society - (a) The incorporators shall sign and acknowledge the articles of...

Section 8-412 - Filing Requirements - (a) The incorporators shall file with the Commissioner: (1) the...

Section 8-413 - Minimum Capital - (a) Each society that applies on or after July 1,...

Section 8-414 - Preliminary Certificate of Authority - If a society complies with this subtitle, the Commissioner shall:...

Section 8-415 - Completing Organization of Society - (a) (1) After receiving a preliminary certificate of authority from...

Section 8-416 - Time for Completing Organization - (a) Except as provided in subsection (b) of this section,...

Section 8-417 - Certificate of Authority - (a) Before the Commissioner issues a certificate of authority, the...

Section 8-418 - Constitution and Laws; General Powers - (a) A society may adopt and amend laws to: (1)...

Section 8-419 - Amendments to Laws - (a) A society may amend the society’s laws, in accordance...

Section 8-420 - Officers - (a) (1) The officers, trustees, directors, or other individuals who...

Section 8-421 - Membership - (a) (1) A society may admit to membership an individual...

Section 8-422 - Office; Meetings; Minutes - (a) The principal office of a domestic society shall be...

Section 8-423 - Term and Renewal of Certificate of Authority - (a) A certificate of authority of a society expires on...

Section 8-424 - Foreign or Alien Societies - (a) A foreign or alien society may not transact insurance...

Part III - Benefits

Section 8-427 - Benefits in General - (a) A society authorized to do insurance business in the...

Section 8-428 - Benefits on Lives of Children - (a) In this section, “eligible children” means children under the...

Section 8-429 - Nonforfeiture Benefits, Cash Surrender Values, Certificate Loans, and Other Options - (a) For certificates issued before January 1, 1998, the value...

Section 8-430 - Beneficiaries; Funeral Benefits; Payment of Benefits to Personal Representative - (a) (1) A member of a society may change the...

Section 8-431 - Benefits Exempt From Attachment or Execution - Benefits to be paid by a society are not subject...

Section 8-432 - Benefit Certificates -- Issuance; Statements as Representations; Amendments to Laws; Certified Copies as Evidence - (a) (1) Each society authorized to do business in the...

Section 8-433 - Benefit Certificates -- Filing and Approval; Standard Provisions; Individuals Below Minimum Age; Assignment - (a) (1) After December 31, 1997, a benefit certificate may...

Part IV - Other Powers and Duties

Section 8-437 - Creation and Operation of Institutions - (a) A society may create, maintain, and operate charitable, benevolent,...

Section 8-438 - Consolidation and Merger -- Procedure - (a) A society may consolidate or merge with another society...

Section 8-439 - Consolidation and Merger -- Effect - (a) When a consolidation or merger becomes effective, each right,...

Section 8-440 - Conversion to Mutual Life Insurer - (a) A domestic society may convert to and be licensed...

Section 8-441 - Reinsurance - (a) Subject to subsection (b) of this section, a domestic...

Section 8-442 - Assets; Special Funds; Payments for Expenses; Separate Accounts - (a) (1) All assets of a society shall be held,...

Section 8-443 - Investments - For the purpose of compliance with standards set out in...

Section 8-444 - Annual Statement - (a) Each society transacting insurance business in the State shall:...

Section 8-445 - Valuation of Certificates - (a) Standards of valuation for certificates issued before January 1,...

Section 8-446 - Impairment of Reserves - (a) Each society shall provide in its laws that: (1)...

Part V - Fraternal Benefit Agents

Section 8-449 - License Required; Exceptions - (a) Except as otherwise provided in this section, a person...

Part VI - Enforcement and Penalties

Section 8-461 - Examination of Domestic Societies - (a) The Commissioner or a person appointed by the Commissioner...

Section 8-462 - Examination of Foreign and Alien Societies - (a) The Commissioner or a person appointed by the Commissioner...

Section 8-463 - Publication of Information About Examinations or Investigations - (a) Subject to subsection (b) of this section, during or...

Section 8-464 - Injunctions - (a) The Commissioner shall take action under subsection (b) of...

Section 8-465 - Judicial Review - A decision or finding of the Commissioner made under this...

Section 8-466 - Unincorporated Societies Prohibited - An unincorporated or voluntary association may not transact business in...

Section 8-467 - Discrimination and Rebates Prohibited - (a) A society doing insurance business in the State may...

Section 8-468 - Misrepresentation About Society or Insurance Contract Prohibited - (a) A person may not cause or allow to be...

Subtitle 5 - Reinsurance Intermediaries

Section 8-501 - Definitions - (a) In this subtitle the following words have the meanings...

Section 8-502 - Regulations - The Commissioner may adopt regulations to carry out this subtitle.

Section 8-503 - License Required; Qualifications of Reinsurance Intermediaries - (a) This section does not apply to a lawyer admitted...

Section 8-504 - Required Bonds or Other Security - (a) The Commissioner may require a reinsurance manager to: (1)...

Section 8-505 - Service of Process - (a) (1) On the form that the Commissioner provides, each...

Section 8-506 - Applications for License - (a) An applicant for a license shall: (1) file with...

Section 8-507 - Issuance of License - (a) The Commissioner shall issue a license to each applicant...

Section 8-508 - Scope of License - (a) A license issued to an individual authorizes the individual...

Section 8-509 - Term and Renewal of License - (a) A license expires on the first July 1 after...

Section 8-510 - Addition or Deletion of Names on License - To add a name to or delete a name from...

Section 8-511 - Denials, Refusals to Renew, Suspensions, and Revocations; Penalties; Judicial Review; Civil Damages - (a) Subject to the hearing provisions of §§ 2-210 through...

Section 8-512 - Examination of Reinsurance Intermediaries - A reinsurance intermediary may be examined under §§ 2-205 through...

Section 8-513 - Authorization to Act as a Reinsurance Broker - (a) A person may not act as a reinsurance broker...

Section 8-514 - Records of Reinsurance Broker - (a) A reinsurance broker shall keep a record of each...

Section 8-515 - Contracts Between Reinsurance Managers and Reinsurers - (a) (1) A person may not act as a reinsurance...

Section 8-516 - Records of Reinsurance Manager - (a) A reinsurance manager shall keep a record of each...

Section 8-517 - Acts of Reinsurance Manager - The acts of a reinsurance manager are considered to be...

Section 8-518 - Restrictions on Activities of Reinsurance Manager - (a) A reinsurance manager: (1) except as provided in subsection...

Section 8-519 - Duties of Authorized Insurer; Prohibited Acts; Penalties - (a) An authorized insurer shall obtain annually a copy of...

Section 8-520 - Duties of Reinsurer; Prohibited Acts; Penalties - (a) (1) In this subsection, “actuary” means an individual who...

Subtitle 6 - Viatical Settlement Providers and Viatical Settlement Brokers

Section 8-601 - Definitions - (a) In this subtitle the following words have the meanings...

Section 8-602 - Applicability - This subtitle applies only to a viatical settlement contract between...

Section 8-603 - Registration of Providers - (a) A person must register with the Commissioner before the...

Section 8-604 - Application; Fee - An applicant for registration shall: (1) file with the Commissioner...

Section 8-605 - Representation of Viator; Viator Status Not Limited to Owner or Holder of Policy - (a) Notwithstanding the manner in which the viatical settlement broker...

Section 8-605.1 - Duties of Viatical Settlement Brokers - (a) At the time of each application for a viatical...

Section 8-606 - Disclosures - (a) Before an offer to purchase a policy can be...

Section 8-607 - Expiration of Registration - (a) A registration expires at the end of every other...

Section 8-608 - Registration -- Denial, Nonrenewal, Suspension, Revocation - Subject to the hearing provisions of Title 2 of this...

Section 8-609 - Penalties; Restitution - Instead of or in addition to suspending or revoking a...

Section 8-610 - Violations - (a) It is a violation of this subtitle for a...

Section 8-610.1 - Verification of Coverage for Life Insurance Policies - (a) An insurer shall respond to a request for verification...

Section 8-611 - Statement Required in Contracts and Applications - (a) Viatical settlement contracts and applications for viatical settlement contracts...

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Maryland Statutes Insurance Title 8 - Entities That Act as Insurers

Maryland Statutes
Insurance
Title 8 - Entities That Act as Insurers