Maryland Code, INSURANCE 10-112
Terms Used In Maryland Code, INSURANCE 10-112
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(2) An applicant may qualify for a license in one or more of the following kinds of insurance:
(i) life insurance;
(ii) accident and health or sickness insurance;
(iii) property insurance;
(iv) casualty insurance;
(v) variable life and variable annuity products;
(vi) personal lines of property and casualty insurance;
(vii) limited line credit insurance; and
(viii) any other kind or subdivision of insurance permitted under State law or regulations.
(b) A license shall contain:
(1) the licensee’s name, address, and personal identification number;
(2) the date of issuance;
(3) the kind or subdivision of insurance or combination of kinds or subdivisions of insurance for which the licensee is authorized to act as an insurance producer;
(4) the expiration date; and
(5) any other information that the Commissioner considers necessary.
(c) (1) To help the Department of Assessments and Taxation in identifying new businesses in the State, by August 31 of each year the Commissioner shall provide to the Department of Assessments and Taxation a list of insurance producers that were issued licenses during the previous fiscal year.
(2) The list shall include:
(i) the name and mailing address of each person issued a license; and
(ii) the federal tax identification number of each person or, if the person does not have a federal tax identification number, the Social Security number of the person.
(3) The Commissioner shall provide the list free of charge.