2013 Maryland Code
INSURANCE
§ 10-211 - Term and renewal of license


MD Ins Code § 10-211 (2013) What's This?

§10-211.

(a) A license expires at the end of every other June 30 unless it is renewed for a 2-year term as provided in this section.

(b) At least 1 month before a license expires, the Commissioner shall mail to the holder of the license, at the last known address of the holder:

(1) a renewal application form; and

(2) a notice that states:

(i) the date by which the Commissioner must receive the renewal application for the renewal to be issued and mailed before the license expires; and

(ii) the amount of the renewal fee.

(c) Before a license expires, the holder of the license periodically may renew it for an additional 2-year term, if the holder:

(1) otherwise is entitled to a license;

(2) files with the Commissioner a renewal application on the form that the Commissioner provides;

(3) pays to the Commissioner the renewal fee required by § 2-112 of this article;

(4) is in compliance with the bond requirement of § 10-206 of this subtitle; and

(5) if the Commissioner determines that an examination is advisable to determine the trustworthiness or competence of a holder, passes an examination given by the Commissioner.

(d) An application for renewal of a license shall be considered made in a timely manner if it is postmarked on or before June 30 of the year of renewal.

(e) (1) The Commissioner shall renew the license of each holder who meets the requirements of this section.

(2) If the holder of a license files an application for renewal before the license expires, the license shall remain in effect until:

(i) the Commissioner issues a renewal license; or

(ii) 5 days after the Commissioner refuses to renew the license and gives notice of the refusal to the holder.

§ 10-211 - 1. Reinstatement of license

(a) Authorized. -- On or before September 30 of the renewal year, a person whose insurance adviser's license has expired may reinstate the expired license by:

(1) filing with the Commissioner the appropriate reinstatement application;

(2) paying to the Commissioner the applicable reinstatement fee required under subsection (b) of this section; and

(3) complying with the bond requirement of § 10-206 of this subtitle.

(b) Fee. --

(1) The fee for a reinstatement under this section shall be:

(i) the amount charged for a full renewal period for the type of license held by the person seeking the reinstatement; and

(ii) 1. $ 25 for reinstatement during the period from July 1 through July 31;

2. $ 50 for reinstatement during the period from August 1 through August 31; and

3. $ 75 for reinstatement during the period from September 1 through September 30.

(2) The Commissioner may limit the reinstatement fee to the amount of the renewal fee in cases where the reinstatement applicant did not make timely renewal because of temporary incapacity, hospitalization, or other hardship.

(c) Effect of expired license. -- A person whose insurance adviser's license has expired is prohibited from acting as an insurance adviser until the effective date of reinstatement of the license.

(d) Failure to reinstate. -- A person who does not comply with subsection (a) of this section on or before September 30 of the year of expiration shall apply for an insurance adviser's license under § 10-205 of this subtitle and meet any other requirements specified by the Commissioner in regulation.

(e) Regulations. -- The Commissioner may adopt regulations to carry out this section.

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