Md. Code Ann., Ins. § 27-406.1
Restrictions relating to solicitation or issuance of surety bond or insurance by individual surety
Effective Jun 1, 2012Added by Acts 2012, c. 299, § 1, eff. June 1, 2012; Acts 2012, c. 300, § 1, eff. June 1, 2012.State of Maryland
(a) In this section, “individual surety” means a person that:
- (1) issues surety bonds or contracts of surety insurance; and
- (2) does not have a certificate of authority issued by the Commissioner.
(b) It is a fraudulent insurance act for an individual surety to solicit or issue a surety bond or contract of surety insurance except as provided in:
- (1) §§ 13-207 and 17-104 of the State Finance and Procurement Article; and
- (2) for an uncompensated person, §§ 5-203 and 5-204 of the Criminal Procedure Article.
Added by Acts 2012, c. 299, § 1, eff. June 1, 2012; Acts 2012, c. 300, § 1, eff. June 1, 2012.