MARVIN MANDEL, Governor

1219

AN ACT concerning

Insurance — Agents and Brokers Notice

FOR the purpose of exempting certain agents or brokers of
a company or group of companies from certain notice
requirements where the business is owned by the
company or group of companies and the cancellation
of any contractual agreement does not result in the
cancellation or refusal to renew any policies of
insurance; generally relating to certain notice
requirements for certain insurance agents and
brokers; and to correct language.

BY repealing and re—enacting, with amendments,

Article 48A — Insurance Code

Section 234B(b)

Annotated Code of Maryland

(1972 Replacement Volume and 1974 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 234B(b) of Article 48A - Insurance
Code, of the Annotated Code of Maryland (1972 Replacement
Volume and 1974 Supplement) be and it is hereby repealed
and re—enacted, with amendments, to read as follows:

Article 48A — Insurance Code

234B.

(b) If an insurer intends to cancel a written
agreement with an agent or broker, or intends to refuse
any class of renewal business from the agent or broker,
the insurer shall give the agent or broker not less than
90 days written notice. Notwithstanding any provision of
the agreement to the contrary, the insurer shall continue
for not less than one year after termination of the
agency agreement to renew through [such] THE agent or
broker any of the policies which have not been replaced
with other insurers as expirations occur. This
subsection shall not apply to [life, health, surety, wet
marine and title insurance policies.]: (1) AGENTS OR
BROKERS OR POLICIES OF A COMPANY OR GROUP OF COMPANIES
REPRESENTED BY AGENTS OR BROKERS WHO BY CONTRACTUAL
AGREEMENT REPRESENT ONLY THAT COMPANY OR GROUP OF
COMPANIES IF THE BUSINESS IS OWNED BY THE COMPANY OR
GROUP OF COMPANIES AND THE CANCELLATION OF ANY
CONTRACTUAL AGREEMENT DOES NOT RESULT IN THE CANCELLATION
OR REFUSAL TO RENEW ANY POLICIES OF INSURANCE; OR, (2)