Md. Code Regs. 31.03.01.05

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

Section 31.03.01.05 - Issuance of Appointments

A. An insurer may not issue an appointment to act as a temporary life or health insurance producer if to do so would increase the proportion of resident insurance producers temporarily licensed by the insurer to resident insurance producers permanently licensed to 10 percent or more, based upon statistics for the previous calendar year.

B. The Insurance Commissioner may, at the discretion of the Insurance Commissioner, allow an insurer to exceed the 10 percent limitation stated in §A of this regulation if the Insurance Commissioner reasonably believes that the limitation would impose an undue burden on the conduct of the insurer's business in Maryland.

C. In determining whether to allow an insurer to exceed the 10 percent limitation stated in §A of this regulation, the Insurance Commissioner shall consider the total number of resident insurance producers appointed by the insurer and the length of time the insurer has been doing business in Maryland.

Md. Code Regs. 31.03.01.05

Regulations .05 adopted effective May 5, 1986 (13:9 Md. R. 1027)
Regulation .05 amended effective April 10, 2006 (33:7 Md. R. 675)