Section 10-106 - Qualifications of business entity. - Maryland Statutes

§ 10-106. Qualifications of business entity.
 

(a)  Inapplicable to certain motor vehicle rental companies.- This section does not apply to a motor vehicle rental company that applies for a limited lines license to sell insurance in connection with, and incidental to, the rental of a motor vehicle under Subtitle 6 of this title. 

(b)  Insurance producer - Designation.- To qualify for a license as an insurance producer, a business entity must designate a licensed insurance producer to act as the business entity's principal contact with the Administration. 

(c)  Same - Duties.- The designated insurance producer shall: 

(1) provide to the Administration at the time of designation the insurance producer's name, business address, business telephone number, business facsimile number, and business electronic mail address; 

(2) notify the Insurance Administration in writing of any change in the information required by item (1) of this subsection within 10 days after the change; 

(3) compile and maintain, to the extent reasonably possible, a list of locations where records of the business entity are maintained; and 

(4) on request, cooperate with any investigation conducted by the Administration unless the cooperation is subject to a legal privilege asserted by the designated insurance producer or the business entity. 
 

[An. Code 1957, art. 48A, § 168; 1995, ch. 36; 2001, ch. 731, § 1.]