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§ 8-101. Definitions

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 8. Entities that Act as Insurers
Subtitle 1. Broker Controlled Business (Refs & Annos)
MD Code, Insurance, § 8-101
§ 8-101. Definitions
Currentness
In general
(a) In this subtitle the following words have the meanings indicated.
Control, controlling, controlled by, or under common control with
(b) “Control”, “controlling”, “controlled by”, or “under common control with” means the direct or indirect possession of the power to direct or cause the direction of the management and policies of a person, through ownership of voting securities or of securities convertible into voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise, whether or not the power is exercised or sought to be exercised.
Controlled insurer
(c) “Controlled insurer” means an insurer that is under the control of a controlling insurance producer.
Controlling insurance producer
(d) “Controlling insurance producer” means an insurance producer that has control of a controlled insurer.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 1997, c. 57, § 2, eff. Oct. 1, 1997; Acts 2001, c. 731, § 1, eff. July 2, 2001.
Formerly Art. 48A, § 661.
MD Code, Insurance, § 8-101, MD INSURANCE § 8-101
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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