1. (a) The Commissioner shall issue a license to each applicant that:

   1. (1) meets the requirements of this subtitle; and
   2. (2) pays the applicable fee for a license for an insurance producer under § 2-112 of this article.

2. (b)

   1. (1) In this subsection, “controlling person” means a person that directly or indirectly has the power to direct, or cause to be directed, the management, control, or activities of a reinsurance intermediary.

   2. (2) The Commissioner may refuse to issue a license if the Commissioner finds that the applicant, an individual named on the application, a member, principal, officer, or director of the applicant, or a controlling person of the applicant:

      1. (i) is not trustworthy to act as a reinsurance intermediary;
      2. (ii) has given cause for revocation or suspension of a license; or
      3. (iii) has failed to comply with a requirement for issuance of a license.
   3. (3) On written request, the Commissioner shall provide a summary of the basis for the refusal to issue a license.
   4. (4) The summary of the basis for refusal is privileged and is not a public document under Title 10, Subtitle 6 of the State Government Article.

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 2001, c. 731, § 1, eff. July 2, 2001.

Formerly Art. 48A, §§ 714, 719.