PARRIS N. GLENDENING, Governor                             Ch. 656

REVOKE OR REFUSE TO RENEW OR REINSTATE A CERTIFICATE OF QUALIFICATION
OF A LIMITED LIABILITY COMPANY. PARTNERSHIP, OR CORPORATION AFTER
NOTICE AND OPPORTUNITY FOR HEARING UNDER §§ 2-210 THROUGH 2-214 OF THIS
ARTICLE if an individual [who has direct control over its fiscal management or an agent,
broker, director, officer, partner, member, manager, owner, or employee of the limited
liability company, partnership, or corporation] LISTED IN PARAGRAPH (2) OF THIS
SUBSECTION has:

[ (1)] (I) violated any provision of this subtitle;

[(2)] (II) been convicted of a felony, a crime of moral turpitude, or any
criminal offense involving dishonesty or breach of trust; or

[(3)] (III) had any professional license suspended or revoked for a fraudulent
or dishonest practice.

(2)     THIS SUBSECTION APPLIES IN ANY CASE THAT INVOLVES A LIMITED
LIABILITY COMPANY, PARTNERSHIP, OR CORPORATION. OR ANY OTHER BUSINESS
ENTITY IF THE VIOLATION WAS COMMITTED BY AN INDIVIDUAL WHO IS:

(I)      AN AGENT OR BROKER;

(II)     1. IN THE CASE OF A LIMITED LIABILITY COMPANY, AN
OFFICER, DIRECTOR, MEMBER, OR MANAGER;

2.       IN THE CASE OF A PARTNERSHIP, A PARTNER; AND

3.       IN THE CASE OF A CORPORATION, A DIRECTOR, OFFICER,
OR OWNER; OR

(III)   AN INDIVIDUAL WITH DIRECT CONTROL OVER THE FISCAL
MANAGEMENT OF THE LIMITED LIABILITY COMPANY, PARTNERSHIP, OR
CORPORATION, OR ANY OTHER BUSINESS ENTITY.

(e) If the certificate of qualification is suspended [or revoked] under this section,
the Commissioner may require the individual to pass an examination and file a new
application before the [certificate of qualification is reinstated] SUSPENSION IS LIFTED.

10-204.

(c) A license may be issued to:

(3)     (I) a nonresident of the State who is licensed as an insurance adviser
in the nonresident's state of residence; OR

(II) IF THE COMMISSIONER DETERMINES THAT THE APPLICANT IS
OTHERWISE QUALIFIED TO ACT AS AN INSURANCE ADVISER. A NONRESIDENT OF
MARYLAND WHOSE STATE OF RESIDENCE DOES NOT ISSUE:

1. AN INSURANCE ADVISER'S LICENSE; OR

2. THE EQUIVALENT OF AN INSURANCE ADVISER'S LICENSE.

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