Maine Revised Statutes Title 24-A Sec. 1420-B – License required
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Terms Used In Maine Revised Statutes Title 24-A Sec. 1420-B
- Negotiate: means the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms or conditions of the contract, provided that the person engaged in that act either sells insurance or obtains insurance from insurers for purchasers. See Maine Revised Statutes Title 24-A Sec. 1420-A
- Person: means an individual or a business entity. See Maine Revised Statutes Title 24-A Sec. 1420-A
- Sell: means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company. See Maine Revised Statutes Title 24-A Sec. 1420-A
- Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company. See Maine Revised Statutes Title 24-A Sec. 1420-A
A person may not sell, solicit or negotiate insurance in this State for any class or classes of insurance unless the person is licensed for that line of authority in accordance with this subchapter. [PL 2001, c. 259, §24 (NEW).]
SECTION HISTORY
PL 2001, c. 259, §24 (NEW).