Section 7-606 - Disclaimer of affiliation. - Maryland Statutes

§ 7-606. Disclaimer of affiliation.
 

(a)  In general.- An insurer, a member of an insurance holding company system, or any other person may file with the Commissioner a disclaimer of affiliation with an authorized insurer that fully discloses: 

(1) all material relationships and bases for affiliation between the person filing the disclaimer and the authorized insurer; and 

(2) the basis for disclaiming the affiliation. 

(b)  Disallowance.- After giving all parties in interest notice and an opportunity to be heard, the Commissioner may disallow a disclaimer based on specific findings of fact. 

(c)  Effect of filing disclaimer.- An insurer is relieved of any duty to register or report under this subtitle that arises out of the insurer's relationship with the person filing the disclaimer: 

(1) from the date the disclaimer is filed; and 

(2) until the Commissioner disallows the disclaimer. 
 

[An. Code 1957, art. 48A, § 495; 1995, ch. 36.]