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§ 3-322. Recordkeeping requirements

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 3. Kinds of Insurers
Subtitle 3. Surplus Lines Insurance (Refs & Annos)
MD Code, Insurance, § 3-322
§ 3-322. Recordkeeping requirements
Currentness
In general
(a) Each surplus lines broker shall keep separate records and accounts of all business transacted under the surplus lines broker's certificate of qualification, including copies of:
(1) any daily report made by the surplus lines broker; and
(2) each binder or cover note delivered by the surplus lines broker.
Retention of records
(b) The records described by subsection (a) of this section shall be kept by the surplus lines broker for 3 years after the issuance of the coverage to which the record relates and shall be available at any reasonable time during that period for examination by the Commissioner.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 193.
MD Code, Insurance, § 3-322, MD INSURANCE § 3-322
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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