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§ 10-201. Definitions

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 10. Regulation of Insurance Professions
Subtitle 2. Advisers (Refs & Annos)
MD Code, Insurance, § 10-201
§ 10-201. Definitions
Currentness
In general
(a) In this subtitle the following words have the meanings indicated.
Adviser
(b) “Adviser” means a person that, for compensation:
(1) examines or offers to examine a policy, annuity contract, or pure endowment contract for the purpose of giving, or gives or offers to give, advice or information about:
(i) the terms, conditions, benefits, coverage, or premium of a policy, annuity contract, or pure endowment contract; or
(ii) the advisability of changing, exchanging, converting, replacing, surrendering, continuing, or rejecting a policy, annuity contract, or pure endowment contract or of accepting or procuring a policy, annuity contract, or pure endowment contract from an insurer; or
(2) represents to the public that the person gives or is engaged in the business of giving advice or information to holders of policies or annuity contracts by use of the title “insurance adviser”, “insurance specialist”, “insurance counselor”, “insurance analyst”, “policyholders' adviser”, “policyholders' counselor”, “refund company”, or other similar title:
(i) in or on advertisements, cards, signs, circulars, letterheads, or elsewhere; or
(ii) in any other manner in which public announcements are made.
License
(c) “License” means a license issued by the Commissioner to act as an adviser.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 1998, c. 752, § 1, eff. Oct. 1, 1998.
Formerly Art. 48A, § 182.
MD Code, Insurance, § 10-201, MD INSURANCE § 10-201
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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