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§ 8-507. Issuance of license

MD Ins Code § 8-507 (2019) (N/A)
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(a)    The Commissioner shall issue a license to each applicant that:

(1)    meets the requirements of this subtitle; and

(2)    pays the applicable fee for a license for an insurance producer under § 2-112 of this article.

(b)    (1)    In this subsection, “controlling person” means a person that directly or indirectly has the power to direct, or cause to be directed, the management, control, or activities of a reinsurance intermediary.

(2)    The Commissioner may refuse to issue a license if the Commissioner finds that the applicant, an individual named on the application, a member, principal, officer, or director of the applicant, or a controlling person of the applicant:

(i)    is not trustworthy to act as a reinsurance intermediary;

(ii)    has given cause for revocation or suspension of a license; or

(iii)    has failed to comply with a requirement for issuance of a license.

(3)    On written request, the Commissioner shall provide a summary of the basis for the refusal to issue a license.

(4)    The summary of the basis for refusal is privileged and is not a public document under Title 10, Subtitle 6 of the State Government Article.

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§ 8-506. Applications for license
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§ 8-508. Scope of license