Maryland Code, INSURANCE 10-210
Current as of: 2023 | Check for updates
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Terms Used In Maryland Code, INSURANCE 10-210
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
A licensee may conduct an insurance advisory business as a sole proprietorship, partnership, association, or corporation if:
(1) each individual who acts as an adviser is licensed under this subtitle; and
(2) the trade name of the business is registered with the Commissioner.