Ch. 242 1997 LAWS OF MARYLAND

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 1997.

Approved April 29, 1997.

CHAPTER 242
(House Bill 509)

AN ACT concerning

Insurance - Change of Agent or Broker of Record

FOR the purpose of requiring an authorized insurer to accept and honor a request by a
policyholder for a change of agent or broker of record within a certain time period
under certain circumstances; requiring a new agent or broker of record to have a
current appointment or and contract with the authorized insurer before the change
of agent or broker of record will be effective; requiring a new agent or broker of
record to be paid certain commissions under certain circumstances; requiring a
request for a change of agent or broker of record to be in writing and include
certain information; providing that this Act does not require an authorized insurer
to appoint or and contract with an agent or broker of record, to alter a certain existing
contract, or to require the payment of certain commissions where a certain agent or
broker continues to have a certain responsibility, and generally relating to a change of
agent or broker of record in insurance.

BY adding to

Article - Insurance

Section 27-911

Annotated Code of Maryland

(1995 Volume and 1996 Supplement)

(As enacted by Chapter_ (H.B. 11) of the Acts of the General Assembly of

1997)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article — Insurance

27-911.

(A) EACH AUTHORIZED INSURER DOING BUSINESS IN THE STATE SHALL
ACCEPT AND HONOR EACH REQUEST BY A POLICYHOLDER FOR A CHANGE OF
AGENT OR A CHANGE OF BROKER OF RECORD WITHIN 30 WORKING DAYS AFTER
RECEIPT OF THE REQUEST UNLESS THE POLICYHOLDER WITHDRAWS THE REQUEST
IN WRITING.

- 2020 -