Maryland Code, INSURANCE 8-508
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Terms Used In Maryland Code, INSURANCE 8-508
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(a) A license issued to an individual authorizes the individual to act as a reinsurance intermediary.
(b) A license issued to a firm or association authorizes each member of the firm or association, and each employee of the firm or association who is listed on the license, to act as a reinsurance intermediary.
(c) A license issued to a corporation authorizes each officer of the corporation, and each employee or director of the corporation who is listed on the license, to act as a reinsurance intermediary.