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§ 10-810. Suspension, revocation, or refusals to renew license

West's Annotated Code of MarylandInsuranceEffective: July 1, 2014

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 10. Regulation of Insurance Professions
Subtitle 8. Self-Service Storage Producers (Refs & Annos)
Effective: July 1, 2014
MD Code, Insurance, § 10-810
§ 10-810. Suspension, revocation, or refusals to renew license
Grounds for discipline
(a) The Commissioner may suspend, revoke, or refuse to renew a limited lines license issued under this subtitle after notice and opportunity for a hearing under Title 2, Subtitle 2 of this article if the self-service storage producer or an employee or authorized representative of the self-service storage producer who offers or sells limited lines insurance on behalf of the self-service storage producer has:
(1) willfully violated this article or another law of the State that relates to insurance;
(2) operated without a limited lines license as required under this subtitle;
(3) failed to provide the disclosures required under § 10-806 of this subtitle;
(4) offered or sold unapproved insurance products;
(5) failed to train employees or authorized representatives as required under § 10-808 of this subtitle; or
(6) misrepresented pertinent facts or policy provisions concerning a policy for a self-service storage facility.
Penalties in addition to suspension or revocation of license
(b) Instead of, or in addition to, suspending or revoking a limited lines license issued under this subtitle, the Commissioner may:
(1) impose on the self-service storage producer a penalty of not more than $2,500 for each violation of this subtitle; and
(2) require that restitution be made to any person who has suffered financial injury because of a violation of this subtitle.

Credits

Added by Acts 2014, c. 174, § 1, eff. July 1, 2014.
MD Code, Insurance, § 10-810, MD INSURANCE § 10-810
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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