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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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INSURANCE |
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TITLE 8. ENTITIES THAT ACT AS INSURERS |
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SUBTITLE 6. VIATICAL SETTLEMENT PROVIDERS AND VIATICAL SETTLEMENT BROKERS |
§ 8-603. Registration of providers
Latest version.
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(a) Required. -- A person must register with the Commissioner before the person acts as or represents itself as a viatical settlement provider in the State.
(b) Prerequisite for negotiating contracts. --
(1) Except for an individual listed in § 8-601(k)(2) of this subtitle, only an individual who is a viatical settlement broker may negotiate viatical settlement contracts between a viator and one or more settlement providers.
(2) Not later than 30 days after negotiating a viatical settlement contract on behalf of a viator, a viatical settlement broker shall register with the Commissioner in accordance with § 8-604 of this subtitle.
(c) Employees and agents. -- Employees and agents of a registered viatical settlement provider or a registered viatical settlement broker may not be required to be separately registered except in accordance with regulations adopted by the Commissioner.