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§ 10-206. Bond requirements

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, § 10-206
§ 10-206. Bond requirements
An applicant for a license shall file with the Commissioner a bond that:
(1) is approved by the Commissioner as to form and sufficiency of security;
(2) is executed by the applicant and an authorized surety insurer;
(3) is in the penal sum of $1,000;
(4) is conditioned on the applicant faithfully performing the duties of an adviser;
(5) runs to the State; and
(6) specifically authorizes the State to recover the penal sum of the bond if the applicant is guilty of fraudulent or dishonest practices while acting as an adviser.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 182.
MD Code, Insurance, § 10-206, MD INSURANCE § 10-206
Current through all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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