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Session Laws, 1999
Volume 796, Page 3650   View pdf image
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(2) complies with the other applicable provisions of this title.

(b) Subsection (a) of this section does not apply to policies of life insurance
that insure only individuals who:

(1) are related by blood, marriage, or adoption;

(2) are actively engaged in the management of a business enterprise, and
have a common interest through ownership of the enterprise or a substantial legal
interest or equity in the enterprise; or

(3) otherwise have an insurable interest in each other's lives.

(c) Unless approved by the Commissioner, solicitation of coverage in the State
under a policy of group life insurance issued in another jurisdiction may not be made
unless the type of group to be covered conforms substantially to a type of group
described in Subtitle 2 of this title.]

17-101.

(A) UNLESS APPROVED BY THE COMMISSIONER, A GROUP LIFE INSURANCE
POLICY MAY NOT BE OFFERED TO A RESIDENT OF THE STATE UNDER A GROUP LIFE
INSURANCE POLICY ISSUED:

(1) TO A GROUP OTHER THAN ONE DESCRIBED IN SUBTITLE 2 OF THIS

TITLE; OR

(2) IN ANOTHER JURISDICTION UNLESS THE TYPE OF GROUP TO BE
COVERED CONFORMS SUBSTANTIALLY TO A TYPE OF GROUP DESCRIBED IN.
SUBTITLE 2 OF THIS TITLE.

(B) THE PREMIUM FOR THE POLICY SHALL BE PAID EITHER FROM THE
POLICYHOLDER'S FUNDS OR FROM FUNDS CONTRIBUTED BY THE COVERED
PERSONS, OR FROM BOTH.

(C) AN INSURER MAY EXCLUDE OR LIMIT THE COVERAGE ON ANY PERSON AS
TO WHOM EVIDENCE OF INDIVIDUAL INSURABILITY IS NOT SATISFACTORY TO THE
INSURER

(D) AN INSURER WHO SEEKS TO SOLICIT COVERAGE FOR MARYLAND
RESIDENTS UNDER A GROUP LIFE INSURANCE POLICY ISSUED IN ANOTHER
JURISDICTION SHALL INCLUDE IN THE CERTIFICATE FORM USED IN CONNECTION
WITH THE COVERAGE A NOTICE ON THE FIRST PAGE IN 12 POINT BOLD TYPE THAT
STATES:

"THE GROUP INSURANCE POLICE POLICY PROVIDING COVERAGE UNDER THIS
CERTIFICATE WAS ISSUED IN A JURISDICTION OTHER THAN MARYLAND AND MAY
NOT PROVIDE ALL OF THE BENEFITS REQUIRED BY MARYLAND LAW."

 

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Session Laws, 1999
Volume 796, Page 3650   View pdf image
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