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§ 27-223. Misleading use of senior or retiree credentials or designations

West's Annotated Code of MarylandInsuranceEffective: July 1, 2010

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)
Effective: July 1, 2010
MD Code, Insurance, § 27-223
§ 27-223. Misleading use of senior or retiree credentials or designations
Currentness
In general
(a) It is unlawful for any insurance producer to use a senior or retiree credential or designation in a way that is or would be misleading in connection with the offer, sale, or purchase of life insurance, health insurance, or annuities.
Regulations defining misleading use
(b)(1) The Commissioner, in consultation with the Securities Commissioner of the Division of Securities in the Office of the Attorney General, shall adopt regulations to define what constitutes a misleading use of a senior or retiree credential or designation for purposes of subsection (a) of this section.
(2) The regulations adopted by the Commissioner may provide exemptions from subsection (a) of this section, if the exemptions are consistent with the public interest and within the purposes intended by the policy and provisions of this title.
Violation of subsection (a) a lack of trustworthiness
(c) A violation of subsection (a) of this section constitutes a lack of trustworthiness for the purposes of § 10-126(a)(13) of this article.
Powers of Commissioner
(d) This section may not be construed to limit any powers of the Commissioner granted under this title.

Credits

Added by Acts 2010, c. 604, § 1, eff. July 1, 2010; Acts 2010, c. 605, § 1, eff. July 1, 2010.
MD Code, Insurance, § 27-223, MD INSURANCE § 27-223
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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