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§ 10-106. Qualifications of business entity

MD Ins Code § 10-106 (2019) (N/A)
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(a)    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)    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)    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.

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