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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
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 May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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