Maryland Code, INSURANCE 10-120
Terms Used In Maryland Code, INSURANCE 10-120
- 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.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- 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
- Personal representative: includes an administrator and an executor. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(1) is otherwise qualified; and
(2) is:
(i) the surviving spouse, next of kin, personal representative, or appointee of the personal representative, of a deceased insurance producer;
(ii) the spouse, next of kin, employee, or legal guardian of a mentally or physically disabled insurance producer; or
(iii) an employee of a firm, or an officer or employee of a corporation, of a deceased or disabled insurance producer.
(b) Before a person acts as a temporary insurance producer in the State, the person must obtain:
(1) a temporary license in the kind or subdivision of insurance for which the person intends to act as an insurance producer; and
(2) if applicable, an appointment from an insurer.
(c) An applicant for a temporary license shall:
(1) file with the Commissioner an application on the form that the Commissioner provides; and
(2) pay to the Commissioner the applicable fee required by § 2-112 of this article.
(d) Within 30 days after the date an application is received, the Commissioner shall:
(1) issue a temporary license to the applicant; or
(2) refuse in writing to issue a temporary license, stating the reasons for the refusal.
(e) A temporary license issued under subsection (a) of this section expires 15 months after its effective date.