§ 10-6A-02. Limited lines license to sell insurance in connection with a shared motor vehicle
West's Annotated Code of MarylandInsuranceEffective: July 1, 2018
Effective: July 1, 2018
MD Code, Insurance, § 10-6A-02
§ 10-6A-02. Limited lines license to sell insurance in connection with a shared motor vehicle
(a) A peer-to-peer car sharing program shall hold a limited lines license to sell insurance in connection with, and incidental to, the reservation of a shared motor vehicle through the peer-to-peer car sharing program before the peer-to-peer car sharing program or its employees or authorized representatives may sell or offer any policies of insurance in the State to a shared vehicle driver in connection with, and incidental to, a peer-to-peer car sharing program agreement.
(b) A limited lines license issued under this subtitle to sell insurance in connection with, and incidental to, the peer-to-peer car sharing program agreement shall authorize any employee and any authorized representative of the peer-to-peer car sharing program who is trained, under § 10-6A-04(a)(4) of this subtitle, to act on behalf of, and under the supervision of, a peer-to-peer car sharing program, with respect to the kinds of insurance specified in § 10-6A-04(b)(2) of this subtitle.
(c) The acts of an employee or authorized representative offering or selling insurance coverage on behalf of a peer-to-peer car sharing program shall be deemed the acts of the peer-to-peer car sharing program for the purposes of this subtitle.
(d) A peer-to-peer car sharing program holding a limited lines license issued under this subtitle to sell insurance in connection with, and incidental to, the peer-to-peer car sharing program agreement is not required to treat premiums collected from a shared vehicle driver who purchased insurance from the peer-to-peer car sharing program as funds received in a fiduciary capacity if:
(1) the insurer represented by the peer-to-peer car sharing program has consented in a written agreement, signed by an officer of the insurer, that the premiums do not need to be segregated from other funds received by the peer-to-peer car sharing program under the peer-to-peer car sharing program agreement; and
(e) An employee or an authorized representative of a peer-to-peer car sharing program who offers or sells insurance coverage on behalf of the peer-to-peer car sharing program:
(f) This subtitle may not be construed to prohibit payment of compensation to an employee or an authorized representative of a peer-to-peer car sharing program who offers or sells insurance coverage on behalf of the peer-to-peer car sharing program for activities that are incidental to the employee's overall activities.
(g) A peer-to-peer car sharing program that holds a limited lines license to sell insurance in connection with, and incidental to, the peer-to-peer car sharing of a motor vehicle issued under this subtitle shall:
Credits
Added by Acts 2018, c. 852, § 1, eff. July 1, 2018.
MD Code, Insurance, § 10-6A-02, MD INSURANCE § 10-6A-02
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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