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§ 3-326. Delivery of false binder or cover note prohibited

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, § 3-326
§ 3-326. Delivery of false binder or cover note prohibited
Currentness
In general
(a) A surplus lines broker may not:
(1) knowingly or negligently deliver a false binder or cover note; or
(2) fail to notify the insured promptly of any material change with respect to surplus lines insurance by delivery to the insured of a substitute binder or cover note as provided in § 3-321 of this subtitle.
Violation a violation of article
(b) A violation of subsection (a) of this section is a violation of this article.
Penalties for violation
(c) A person that violates subsection (a) of this section is guilty of a misdemeanor and on conviction is subject to the penalty provided by § 1-301 of this article or to any greater applicable penalty provided by law.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 1997, c. 70, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 191.
MD Code, Insurance, § 3-326, MD INSURANCE § 3-326
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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