PARRIS N. GLENDENING, Governor

Ch. 36

REVISOR'S NOTE: This section is new language derived without substantive
change from the second and third sentences and, except as it related to
renewal, the first sentence of former Art. 48A, § 188(4).

Defined term: "Commissioner." § 1-101

3-314. ISSUANCE OF CERTIFICATE OF QUALIFICATION.

THE COMMISSIONER SHALL ISSUE A CERTIFICATE OF QUALIFICATION TO
EACH APPLICANT WHO MEETS THE REQUIREMENTS OF THIS SUBTITLE.

REVISOR'S NOTE: This section is new language added to state expressly that
which only was implied in the former law, i.e., the Commissioner shall issue a
certificate to each applicant who meets the requirements for a certificate of
qualification.

Defined term: "Commissioner" § 1-101

3-315. SCOPE OF CERTIFICATE OF QUALIFICATION.

A QUALIFIED SURPLUS LINES BROKER MAY:

(1)      ACCEPT AND PLACE SURPLUS LINES INSURANCE BUSINESS FROM AN
AGENT OR BROKER WITH A CERTIFICATE OF QUALIFICATION IN THE STATE FOR
THE KIND OF INSURANCE INVOLVED; AND

(2)      COMPENSATE THE AGENT OR BROKER FOR THE SURPLUS LINES
INSURANCE BUSINESS.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 189.

Defined terms: "Insurance" § 1-101

"Qualified surplus lines broker" § 3-301
"Surplus lines insurance" § 1-101

3-316. TERM AND RENEWAL OF CERTIFICATE OF QUALIFICATION.

(A)     TERM OF CERTIFICATE OF QUALIFICATION.

UNLESS A CERTIFICATE OF QUALIFICATION IS RENEWED FOR A 2-YEAR TERM
AS PROVIDED IN THIS SECTION, THE CERTIFICATE OF QUALIFICATION EXPIRES ON
THE FIRST JUNE 30 THAT COMES AFTER ITS EFFECTIVE DATE AND IN AN
ODD-NUMBERED YEAR.

(B)      RENEWAL NOTICE.

AT LEAST 1 MONTH BEFORE A CERTIFICATE OF QUALIFICATION EXPIRES, THE
COMMISSIONER SHALL MAIL TO THE HOLDER OF THE CERTIFICATE OF
QUALIFICATION, AT THE LAST KNOWN ADDRESS OF THE HOLDER:

(1)      A RENEWAL APPLICATION FORM; AND

(2)      A NOTICE THAT STATES:

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