Md. Code Regs. 31.09.02.01

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

Section 31.09.02.01 - Authority and Purpose

This chapter, applicable to variable life insurance policies, is promulgated under authority of Insurance Article, 2-109 and 16-601-----16-603, Annotated Code of Maryland. The issuance or delivery of life insurance policies on a variable basis in Maryland in any manner not in compliance with this chapter shall be deemed contrary to the requirements of Insurance Article, 16-601-----16-603, Annotated Code of Maryland, and, further, shall be deemed to constitute the transaction of insurance business hazardous to policyholders and the public and contrary to the public interest.