§ 7-606. Disclaimer of affiliation [Subject to amendment effective January 1, 2014; amended version follows this section]

Latest version.

   (a) In general. -- An insurer, a member of an insurance holding company system, or any other person may file with the Commissioner a disclaimer of affiliation with an authorized insurer that fully discloses:

   (1) all material relationships and bases for affiliation between the person filing the disclaimer and the authorized insurer; and

   (2) the basis for disclaiming the affiliation.

(b) Disallowance. -- After giving all parties in interest notice and an opportunity to be heard, the Commissioner may disallow a disclaimer based on specific findings of fact.

(c) Effect of filing disclaimer. -- An insurer is relieved of any duty to register or report under this subtitle that arises out of the insurer's relationship with the person filing the disclaimer:

   (1) from the date the disclaimer is filed; and

   (2) until the Commissioner disallows the disclaimer.

HISTORY: An. Code 1957, art. 48A, § 495; 1995, ch. 36.

                    
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