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S.B. 463 VETOES
(iv) any additional information that the Commissioner may require.
(3) An insurer shall send written documentation of the appointment to
the insurance producer.
(e) A licensed insurance producer that has been appointed by an insurer shall
maintain:
(1) documentation of the insurer's appointment; and
(2) a list of the insurers that have appointed the producer.
(d) (1) The insurer's producer register and the producer's record relating to
an appointment:
(i) shall be open to inspection and examination by the
Commissioner; and
(ii) may be maintained electronically.
(2) Except as provided in [paragraph (3)] PARAGRAPHS (3) AND (4) of this
subsection, an insurance producer may not act on behalf of an insurer unless the
insurance producer has received written documentation of the appointment from the
insurer.
(3) An insurer may initially accept an application for life insurance,
health insurance, or an annuity from an insurance producer who is not appointed by
the insurer and is not on the insurer's producer register if, within 30 days of accepting
the application, the insurer:
(i) rejects the application in accordance with § 27-501 of this
article; or
(ii) appoints the insurance producer and enters in the insurer's
producer register the information required by subsection (b) of this section.
(4) WITHOUT AN APPOINTMENT, A LICENSED TITLE INSURANCE
PRODUCER ACTING ON BEHALF OF ANOTHER LICENSED AND APPOINTED TITLE
INSURANCE PRODUCER MAY PROVIDE ESCROW, CLOSING, OR SETTLEMENT
SERVICES THAT RESULT IN THE ISSUANCE OF A TITLE INSURANCE CONTRACT.
10-101.
(J) "TITLE INSURANCE PRODUCER INDEPENDENT CONTRACTOR" MEANS A
PERSON THAT:
(1) IS LICENSED TO ACT AS A TITLE INSURANCE PRODUCER;
(2) PROVIDES ESCROW, CLOSING, OR SETTLEMENT SERVICES THAT MAY
RESULT IN THE ISSUANCE OF A TITLE INSURANCE CONTRACT AS AN INDEPENDENT
CONTRACTOR FOR, OR ON BEHALF OF, A LICENSED AND APPOINTED TITLE
INSURANCE PRODUCER; AND
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