§ 10-704. Issuance of limited lines license
West's Annotated Code of MarylandInsuranceEffective: October 1, 2012
Effective: October 1, 2012
MD Code, Insurance, § 10-704
§ 10-704. Issuance of limited lines license
(a) The Commissioner shall issue to a vendor a limited lines license authorizing the vendor to sell or offer to sell coverage under a policy of portable electronics insurance to a customer if the vendor:
(b)(1) Subject to paragraph (2) of this subsection, a vendor shall provide the name, residence address, and any other information required by the Commissioner for an officer or employee of the vendor who is designated by the vendor as the person responsible for the vendor's compliance with the requirements of this subtitle.
(2) If the vendor derived more the 25% of its total revenue in the preceding year from the sale of portable electronics insurance, the vendor shall provide the information required in paragraph (1) of this subsection for all officers, directors, and shareholders of record under the federal securities law.
(c)(1) The supervising entity shall maintain a registry of all vendor locations that are authorized to sell or offer portable electronics insurance coverage in the State.
Credits
Added by Acts 2009, c. 316, § 1, eff. Jan. 1, 2010; Acts 2009, c. 317, § 1, eff. Jan. 1, 2010. Amended by Acts 2012, c. 601, § 1, eff. Oct. 1, 2012; Acts 2012, c. 602, § 1, eff. Oct. 1, 2012.
MD Code, Insurance, § 10-704, MD INSURANCE § 10-704
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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