§ 20-513
109 words·~1 min read·
/md/insurance/20-513A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§20–513.
The Fund may refuse to accept further applications from a fund producer or may terminate the authority of the fund producer to bind coverage or both if:
(1)the Fund finds that the fund producer has engaged in the practice of binding coverage in the Fund in violation of policies adopted by the Board of Trustees; or
(2)after demand has been made by the Fund, the fund producer fails to pay money owed the Fund as a result of:
(i)the binding or change of coverage; or
(ii)a commission paid to the fund producer on a policy that is canceled after the effective date of coverage.