2010 Maryland Code
TITLE 3 - KINDS OF INSURERS
Subtitle 3 - Surplus Lines Insurance
Section 3-326 - Delivery of false binder or cover note prohibited.
§ 3-326. Delivery of false binder or cover note prohibited.
(a) In general.- A surplus lines broker may not:
(1) knowingly or negligently deliver a false binder or cover note; or
(2) fail to notify the insured promptly of any material change with respect to surplus lines insurance by delivery to the insured of a substitute binder or cover note as provided in § 3-321 of this subtitle.
(b) Violation of article.- A violation of subsection (a) of this section is a violation of this article.
(c) Penalty.- A person that violates subsection (a) of this section is guilty of a misdemeanor and on conviction is subject to the penalty provided by § 1-301 of this article or to any greater applicable penalty provided by law.
[An. Code 1957, art. 48A, § 191; 1995, ch. 36; 1997, ch. 70, § 1.]
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