§ 8-106. Placement or acceptance of business by reinsurance intermediary
West's Annotated Code of MarylandInsurance
MD Code, Insurance, § 8-106
§ 8-106. Placement or acceptance of business by reinsurance intermediary
(a) In this section, “reinsurance intermediary” means a person that acts as an insurance producer in:
(b) This section does not apply to a reinsurance intermediary that makes a complete written disclosure to the parties of its relationship with the assuming or ceding insurer before completion of the transaction.
(c) A reinsurance intermediary that has control of an assuming insurer may not directly or indirectly place insurance business with the assuming insurer in a transaction in which the reinsurance intermediary acts as an insurance producer for the ceding insurer.
(d) A reinsurance intermediary that has control of a ceding insurer may not directly or indirectly accept business from the ceding insurer in a transaction in which the reinsurance intermediary acts as an insurance producer for the assuming insurer.
Credits
Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 1996, c. 60, § 1, eff. Oct. 1, 1997; Acts 2001, c. 731, § 1, eff. July 2, 2001.
Formerly Art. 48A, §§ 661, 663.
MD Code, Insurance, § 8-106, MD INSURANCE § 8-106
Current with legislation effective through October 1, 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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