Md. Code Regs. 14.35.05.02

Current through Register Vol. 51, No. 24, December 2, 2024

Section 14.35.05.02 - Renewal

A. Notice.

(1) At least 60 days before the expiration of an insurance producer authorization, the Exchange shall notify the authorized insurance producer of the expiration of the authorization.

(2) The notification shall include:

(a) A renewal application;

(b) The date by which the Exchange must receive the renewal application for the renewal to be issued before the authorization expires; and

(c) The amount of the renewal fee, if any.

B. Eligibility for Renewal. An insurance producer authorization may be renewed for an additional 2-year term if the holder:

(1) Is otherwise entitled to receive insurance producer authorization, in accordance with the eligibility requirements set forth in COMAR 14.35.04.02B;

(2) Files a renewal application on the form provided by the Exchange before the expiration of the authorization;

(3) Pays to the Exchange a renewal fee if permitted by law and in the manner specified by the Exchange; and

(4) Completes the annual training requirements.

C. Exchange Annual Training.

(1) The Exchange shall:

(a) Schedule the Exchange Annual Training; and

(b) Notify authorized insurance producers of the annual training.

(2) Authorized insurance producers shall complete the annual training, including any examination, within 60 days before the open enrollment period.

D. Timely Receipt of Application:

(1) Before the date of expiration of the authorization, a holder of an insurance producer authorization shall complete and return to the Exchange a renewal application and a renewal fee according to the renewal instructions.

(2) A holder of an expired insurance producer authorization may not sell qualified plans in the SHOP Exchange or Individual Exchange.

Md. Code Regs. 14.35.05.02

Regulation .02 amended effective 47:12 Md. R. 597, eff. 6/15/2020