§ 10-810

Maryland § 10-810

• Jurisdiction: Maryland
• Article gin: Insurance
• Title: 10

Text

(a) The Commissioner may suspend, revoke, or refuse to renew a limited lines license issued under this subtitle after notice and opportunity for a hearing under Title 2, Subtitle 2 of this article if the self–service storage producer or an employee or authorized representative of the self–service storage producer who offers or sells limited lines insurance on behalf of the self–service storage producer has:

(1) willfully violated this article or another law of the State that relates to insurance;

(2) operated without a limited lines license as required under this subtitle;

(3) failed to provide the disclosures required under § 10–806 of this subtitle;

(4) offered or sold unapproved insurance products;

(5) failed to train employees or authorized representatives as required under § 10–808 of this subtitle; or

(6) misrepresented pertinent facts or policy provisions concerning a policy for a self–service storage facility.

(b) Instead of, or in addition to, suspending or revoking a limited lines license issued under this subtitle, the Commissioner may:

(1) impose on the self–service storage producer a penalty of not more than $2,500 for each violation of this subtitle; and

(2) require that restitution be made to any person who has suffered financial injury because of a violation of this subtitle.