Ch. 253                                    2004 LAWS OF MARYLAND

(b)     (1) An insurer authorized to transact the business of insurance in the
State shall maintain a producer register.

(2)     Within 30 days of the insurer appointing an insurance producer, the
insurer shall include the following information in the insurer's producer register:

(i) the insurance producer's name;

(ii) the license number assigned to the insurance producer by the
Commissioner;

(iii) the date that the insurer appointed the insurance producer; and

(iv) any additional information that the Commissioner may require.

(3)     An insurer shall send written documentation of the appointment to
the insurance producer.

(c)     A licensed insurance producer that has been appointed by an insurer shall
maintain:

(1)     documentation of the insurer's appointment; and

(2)     a list of the insurers that have appointed the producer.

(d)     (1) The insurer's producer register and the producer's record relating to
an appointment:

(i) shall be open to inspection and examination by the
Commissioner; and

(ii) may be maintained electronically.

(2)     An EXCEPT AS PROVIDED IN PARAGRAPH (3) OF THIS SUBSECTION,
AN insurance producer may not act on behalf of an insurer unless the insurance
producer [is listed on the insurer's producer register] HAS RECEIVED WRITTEN
DOCUMENTATION OF THE APPOINTMENT FROM THE INSURER.

(3)     An insurer may initially accept an application for life insurance,
health insurance, or an annuity from an insurance producer who is not appointed by
the insurer and is not on the insurer's producer register if, within 30 days of accepting
the application, the insurer:

(i) rejects the application in accordance with § 27-501 of this
article; or

(ii) appoints the insurance producer and enters in the insurer's
producer register the information required by subsection (b) of this section.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2004.

Approved May 11, 2004.

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