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§ 27-406.1. Restrictions relating to solicitation or issuance of surety bond or insurance by in...

West's Annotated Code of MarylandInsuranceEffective: June 1, 2012

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 27. Unfair Trade Practices and Other Prohibited Practices (Refs & Annos)
Subtitle 4. Fraudulent Insurance Acts (Refs & Annos)
Effective: June 1, 2012
MD Code, Insurance, § 27-406.1
§ 27-406.1. Restrictions relating to solicitation or issuance of surety bond or insurance by individual surety
Currentness
Individual surety defined
(a) In this section, “individual surety” means a person that:
(1) issues surety bonds or contracts of surety insurance; and
(2) does not have a certificate of authority issued by the Commissioner.
Solicitation or issuance of surety bond or insurance by individual surety
(b) It is a fraudulent insurance act for an individual surety to solicit or issue a surety bond or contract of surety insurance except as provided in:
(1) §§ 13-207 and 17-104 of the State Finance and Procurement Article; and
(2) for an uncompensated person, §§ 5-203 and 5-204 of the Criminal Procedure Article.

Credits

Added by Acts 2012, c. 299, § 1, eff. June 1, 2012; Acts 2012, c. 300, § 1, eff. June 1, 2012.
MD Code, Insurance, § 27-406.1, MD INSURANCE § 27-406.1
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.
End of Document