(a) In this section, “reciprocating state” means a state under the laws of which a prohibition on solicitation similar to that imposed against domestic insurers under this section is imposed on and enforced against insurers domiciled in that state.
(b) A domestic insurer may not knowingly solicit insurance business in a reciprocating state in which the domestic insurer is not licensed as an authorized insurer.
(c) This section does not prohibit advertising through publication or by radio, television, or other broadcasts originating outside the reciprocating state if:
(1) the insurer is licensed to engage in the insurance business in a majority of the states in which the advertising is disseminated; and
(2) the advertising is not specifically directed to residents of the reciprocating state.
(d) This section does not prohibit:
(1) insurance covering persons or risks located in a reciprocating state under contracts solicited and issued in states in which the insurer is then licensed; or
(2) insurance effectuated by the insurer as an unauthorized insurer under the laws of the reciprocating state.
(e) If the Commissioner finds, after a hearing, that a domestic insurer has violated this section, the Commissioner shall suspend or revoke the certificate of authority of the domestic insurer.
Structure Maryland Statutes
Subtitle 1 - Stock Insurers and Mutual Insurers
Section 3-101 - Scope of Subtitle
Section 3-102 - Applicability of General Corporation Statutes and Insurance Article
Section 3-103 - Formation of Domestic Insurers
Section 3-104 - Approval of Articles of Incorporation and Charter
Section 3-105 - Prerequisites to Solicitation by Prospective Mutual Insurer
Section 3-106 - Assets Required for Mutual Insurer -- in General
Section 3-107 - Assets Required for Mutual Insurer -- Engaging in Business on Assessable Basis
Section 3-108 - Engaging in Additional Kinds of Insurance Business
Section 3-109 - Impairment of Required Surplus
Section 3-110 - Contingent Liability of Members
Section 3-111 - Levy of Assessment
Section 3-112 - Enforcement of Contingent Liability
Section 3-113 - Issuance of Nonassessable Policies
Section 3-114 - Participating Policies
Section 3-116 - Loans to Insurers
Section 3-117 - Loans to and Guarantees of Obligations of Directors and Officers
Section 3-118 - Agreements to Pay Expenses of Management
Section 3-119 - Restrictions on Purchase and Sale of Equity Securities of Domestic Stock Insurers
Section 3-120 - Conversion of Stock Insurer to Mutual Insurer
Section 3-121 - Conversion of Mutual Insurer to Stock Insurer
Section 3-122 - Consolidations, Mergers, and Share Exchanges of Stock Insurers
Section 3-123 - Consolidations and Mergers of Mutual Insurers
Section 3-123.1 - Mutual Insurers Forming a Business Combination
Section 3-124 - Bulk Reinsurance -- Stock Insurers
Section 3-125 - Bulk Reinsurance -- Mutual Insurers
Section 3-126 - Changes in Domicile of Insurers