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§ 27-214. Combination plans or transactions

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 27. Unfair Trade Practices and Other Prohibited Practices (Refs & Annos)
Subtitle 2. Unfair Methods of Competition and Unfair and Deceptive Acts or Practices (Refs & Annos)
MD Code, Insurance, § 27-214
§ 27-214. Combination plans or transactions
Requirement that person buy insurance through particular insurance producer or insurer
(a)(1) A person may not require another person to buy insurance through a particular insurance producer or insurer as a condition, agreement, or understanding with respect to selling or providing a loan, credit, sale, goods, property, contract, lease, or service to the other person.
(2) An insurance producer or insurer may not participate in a combination plan or transaction prohibited by paragraph (1) of this subsection.
Solicitation of combination of insurance or other matters
(b)(1) A person may not solicit the combination of insurance and other matters prohibited by subsection (a) of this section.
(2) An insurance producer or insurer may not participate in a plan of public solicitation of the combination of insurance and other matters prohibited by subsection (a) of this section.
(3) This subsection does not prohibit a person from being an insurance producer and engaging in another business at the same time or place if:
(i) the sales of insurance and other matters are not combined or coerced as prohibited by subsection (a) of this section; and
(ii) the buyer or other person has the free choice of insurance.
Violation not invalidation of contract or transaction
(c)(1) Violation of this section does not invalidate any contract or transaction.
(2) Notwithstanding a combination contract, tying agreement, understanding, or condition to the contrary, the person required to buy or pay for insurance or to bid ex-insurance may substitute at any time other insurance from insurance producers or insurers chosen by the person, or may decline further insurance coverage if the insurance is other than to protect the interest of a lender, property owner, or other person.

Credits

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997. Amended by Acts 2001, c. 731, § 1, eff. July 2, 2001.
Formerly Art. 48A, § 228.
MD Code, Insurance, § 27-214, MD INSURANCE § 27-214
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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