PARRIS N. GLENDENING, Governor

Ch. 36

In subsection (d)(1)(iv) of this section, the phrase "issuing the policy", which
modifies "insurer", is added for clarity.

Defined terms: "Agent" § 1-101
"Annuity contract" § 1-101
"Broker" § 1-101
"Health insurance" § 1-101
"Insurance" § 1-101
"Insurer" § 1-101
"Life insurance" § 1-101
"Mutual insurer" § 1-101
"Person" § 1-101
"Policy" § 1-101
"Premium" § 1-101
"Reciprocal insurer" § 1-101
"Reinsurance" § 1-101
"State" § 1-101

10-129. MISREPRESENTATION AS INDEPENDENT AGENT.

A PERSON OTHER THAN AN INDEPENDENT AGENT MAY NOT BE REPRESENTED
TO THE PUBLIC AS AN INDEPENDENT AGENT.

REVISOR'S NOTE: This section is new language derived without substantive
change from the second sentence of former Art. 48A, § 166(b).

Defined term: "Person" § 1-101

10-130. COMMISSION ONLY TO QUALIFIED AGENT OR BROKER.

(A)     IN GENERAL.

EXCEPT AS OTHERWISE PROVIDED IN §§ 10-102 AND 10-119 OF THIS SUBTITLE, A
COMMISSION, FEE, REWARD, REBATE, OR OTHER CONSIDERATION FOR PROCURING
OR INFLUENCING THE PROCUREMENT OF INSURANCE MAY NOT BE PAID, DIRECTLY
OR INDIRECTLY, TO A PERSON OTHER THAN A QUALIFIED AGENT OR QUALIFIED
BROKER.

(B)     EXCEPTION.

EXCEPT AS OTHERWISE PROVIDED IN THIS ARTICLE, FOR LIFE INSURANCE OR
HEALTH INSURANCE THIS SECTION DOES NOT PROHIBIT PAYMENT TO OR RECEIPT
BY A FORMERLY QUALIFIED AGENT OR FORMERLY QUALIFIED BROKER OF:

(1)      COMMISSIONS ON RENEWAL PREMIUMS ON EXISTING POLICIES; OR

(2)      OTHER DEFERRED COMMISSIONS.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 167(d).

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