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Session Laws, 1941
Volume 582, Page 1108   View pdf image (33K)
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1108 LAWS OF MARYLAND. [CH. 642

request grant such a hearing, and he may, in his discretion,
reinstate such license.

(9) No license or renewal license shall be issued to any
applicant unless there shall be on file with the Commissioner
a bond approved by him as to form and sufficiency of security
and executed by such applicant and by approved sureties, in
the penal sum of one thousand dollars conditioned upon the
faithful performance by such licensee named in such license
of their duties as insurance advisers. Such bond shall be made
to the State of Maryland, and shall specifically authorize re-
covery by the State of the penal sum provided therein in case
the insurance adviser shall have been guilty of fraudulent or
dishonest practices in connection with the transaction of his
or its business as an insurance adviser.

(10) The Commissioner may at any time require such in-
formation as he deems necessary in respect to the business
methods, policies, contracts and transactions of a person, firm,
association or corporation licensed hereunder. Such informa-
tion shall be furnished within ten days after receiving written
request therefor, and in such form as the Commissioner may
require.

(11) No contract or agreement between an insurance ad-
viser and any other person relating to the giving of advice,
recommendations or information of the type referred to In
Sub-section two of this Section, shall be enforceable by or on
behalf of such insurance adviser unless it is in writing, and
executed personally in duplicate by the person to be charged
or by his legal representative, nor unless one of said dupli-
cates is delivered to and retained by such person when it is
signed by him, nor unless it plainly specifies the amount of the
fee paid or to be paid by such person and the services to be
rendered by such insurance adviser, nor unless it is in a form
currently approved by the Commissioner. All forms of state-
ments, receipts, contracts, agreements or other forms to be
used in connection therewith by any insurance adviser licensed
hereunder, shall be filed with the Commissioner and approved
by him as conforming to the requirements of this Section and
not inconsistent Avith law, and not misleading in any way. The
Commissioner may disapprove any such form if he finds that
the same contains any provision, or has any title, heading,
backing or other indication of the contents of any or all of its
provisions, which is likely to be misleading, or if he finds that
the same omits any provision which in the discretion of the
Commissioner is required to make any such form clear and not
misleading.

(12) An insurance adviser, licensed under this Section
who furnishes any advice, make any recommendation or
gives any information as such adviser shall in every case

 

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Session Laws, 1941
Volume 582, Page 1108   View pdf image (33K)   << PREVIOUS  NEXT >>


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