Maryland Code, INSURANCE 3-326
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Terms Used In Maryland Code, INSURANCE 3-326
- Conviction: A judgement of guilt against a criminal defendant.
- 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
(a) A surplus lines broker may not:
(1) knowingly or negligently deliver a false binder or cover note; or
(2) fail to notify the insured promptly of any material change with respect to surplus lines insurance by delivery to the insured of a substitute binder or cover note as provided in § 3-321 of this subtitle.
(b) A violation of subsection (a) of this section is a violation of this article.
(c) A person that violates subsection (a) of this section is guilty of a misdemeanor and on conviction is subject to the penalty provided by § 1-301 of this article or to any greater applicable penalty provided by law.