§ 10-111
313 words·~1 min read·
/md/insurance/10-111A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§10–111.
(a)A person who applies for a license as a resident insurance producer shall:
(1)in the case of an applicant who is an individual, submit to the Commissioner a uniform application and declare under penalty of refusal, suspension, or revocation of the license that the statements made in the uniform application are true, correct, and complete to the best of the individual’s knowledge and belief;
(2)in the case of an applicant that is a business entity, submit to the Commissioner a uniform business entity application;
(3)pay the applicable fee required by § 2–112 of this article for a license;
(4)file on the form and in the manner that the Commissioner provides:
(i)any trade name to be used by the applicant;
(ii)the business address of the applicant; and
(iii)the name and residence address of each individual who holds a license and does business under the trade name; and
(5)submit to the Commissioner any additional information or documentation that the Commissioner requires, including any information or documentation to determine the professional competence, good character, and trustworthiness of the applicant.
(1)This subsection 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.
(2)In addition to any other information required on the application, an applicant that is a business entity must:
(i)identify the licensed insurance producer who is designated to act as the business entity’s principal contact with the Administration; and
(ii)provide the name and address of each licensed producer employed by the business entity, each individual who has direct control over its fiscal management, and each owner, member, or manager of the business entity and each director of a business entity that is a corporation.