PARRIS N. GLENDENING, Governor

Ch. 35

contract" are substituted for the former references to a contract of "life
annuity" to use the term defined for the article.

Defined terms: "Annuity contract" § 1-101
"Health insurance" § 1-101
"Insurer" § 1-101
"Life insurance" § 1-101
"Person" § 1-101
"Policy" § 1-101
"Premium" § 1-101

27-209. REBATES - LIFE INSURANCE, HEALTH INSURANCE, AND ANNUITIES.

EXCEPT AS OTHERWISE EXPRESSLY PROVIDED BY LAW, A PERSON MAY NOT
KNOWINGLY:

(1) ALLOW, MAKE, OR OFFER TO MAKE A CONTRACT OF LIFE
INSURANCE OR HEALTH INSURANCE OR AN ANNUITY CONTRACT OR AN
AGREEMENT AS TO THE CONTRACT OTHER THAN AS PLAINLY EXPRESSED IN THE
CONTRACT;

(2) PAY, ALLOW, GIVE, OR OFFER TO PAY, ALLOW, OR GIVE DIRECTLY
OR INDIRECTLY AS AN INDUCEMENT TO THE INSURANCE OR ANNUITY:

(I) A REBATE OF PREMIUMS PAYABLE ON THE CONTRACT;

(II) A SPECIAL FAVOR OR ADVANTAGE IN THE DIVIDENDS OR
OTHER BENEFITS UNDER THE CONTRACT;

(III) PAID EMPLOYMENT OR A CONTRACT FOR SERVICES OF ANY

KIND; OR

(IV) ANY VALUABLE CONSIDERATION OR OTHER INDUCEMENT
NOT SPECIFIED IN THE CONTRACT;

(3) DIRECTLY OR INDIRECTLY GIVE, SELL, PURCHASE, OFFER OR
AGREE TO GIVE, SELL, OR PURCHASE, OR ALLOW AS INDUCEMENT TO THE
INSURANCE OR ANNUITY OR IN CONNECTION WITH THE INSURANCE OR ANNUITY,
REGARDLESS OF WHETHER SPECIFIED IN THE POLICY OR CONTRACT, AN
AGREEMENT THAT PROMISES RETURNS AND PROFITS, OR STOCKS, BONDS, OR
OTHER SECURITIES, OR A PRESENT OR CONTINGENT INTEREST IN OR MEASURED BY
STOCKS, BONDS, OR OTHER SECURITIES, OF AN INSURER OR OTHER CORPORATION,
ASSOCIATION, OR PARTNERSHIP, OR DIVIDENDS OR PROFITS ACCRUED OR TO
ACCRUE ON STOCKS, BONDS, OR OTHER SECURITIES; OR

(4) OFFER, PROMISE, OR GIVE ANYTHING OF VALUE NOT SPECIFIED IN
THE CONTRACT.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 224.

In item (1) of this section, the reference to an "annuity contract" is substituted

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