Ch. 684

1994 LAWS OF MARYLAND

Article 48A - Insurance-Code

182.                                           

(d) (1) The Commissioner [may] SHALL issue an insurance adviser's license to
any person, (A) who is a resident of this State, or who is a nonresident licensed as an
insurance adviser in [the state of his] THAT PERSON'S STATE OF residence, AND MEETS
THE REQUIREMENTS OF CLAUSE (B), (C), (D), (E), (F), OR (G) OF THIS PARAGRAPH AS
A PERSON [or], (B) who is a member, in good standing, of [either] the Society of
Actuaries, or of the Casualty Actuarial Society, or of the Conference of Actuaries in
Public Practice, or .(C) who has been conferred the Chartered. Property Casualty
Underwriter (C.P.C.U.) designation by The American Institute for Property and Liability
Underwriters, Inc., and who is a member, in good standing, of The Society of Chartered
Property and Casualty Underwriters, or (D) who has been conferred the Chartered Life
Underwriter (C.L.U.) designation by The American College of Life Underwriters and
who is a member, in good standing, of The American Society of Chartered Life
Underwriters, or (E) who has been conferred the Certified Employee Benefit Specialist
(C.E.B.S.) designation by the International Foundation of Employee Benefit Plans and
who is a member, in good standing, of the International Society of Certified Employee
Benefit Specialists, or (F) WHO HAS BEEN CONFERRED THE CERTIFIED FINANCIAL
PLANNER (C.F.P.) DESIGNATION BY THE CERTIFIED FINANCIAL PLANNERS BOARD
OF STANDARDS, AND WHOSE DESIGNATION AS A C.F.P. IS CURRENT AND IN GOOD
STANDING WITH THE CERTIFIED FINANCIAL PLANNERS BOARD OF STANDARDS, OR
(G) who has successfully completed a course of study equivalent to any course of study
EITHER required for membership in good standing in any of the societies OR
PROFESSIONAL ENTITIES listed in clause (B), (C), (D), or (E) (E), OR (F) OF THIS
PARAGRAPH as approved by the Commissioner OR REQUIRED FOR CURRENT
DESIGNATION IN GOOD STANDING AS A C.F.P. BY THE CERTIFIED FINANCIAL
PLANNERS BOARD OF STANDARDS AS APPROVED BY THE COMMISSIONER, and who
has been conferred the Certified Insurance Counselor designation by The Society of
Certified Insurance Counselors. [The licensee must be trustworthy and competent to act
as an insurance adviser in such manner as not to jeopardize the public interest, and must
have complied with the prerequisites herein prescribed.]

(2)      The Commissioner may issue a limited insurance adviser's license
restricting the authority of the licensee to an extent agreed upon with said licensee. Said
limitations shall be set forth in the license. In all other respects, the granting of limited
insurance advisers' licenses shall be governed by the provisions relating to insurance
advisers as set out in this section.

(3)      No license to act as an insurance adviser may be issued to other than an
individual. Licensees may conduct their insurance advisory business as a sole;
proprietorship, partnership, association, or corporation, provided that every individual
who acts as an insurance adviser shall be licensed in accordance with the provisions of this
subtitle, provided the trade name is registered with the Insurance Commissioner.

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