Md. Code Regs. 31.03.12.06

Current through Register Vol. 51, No. 22, November 1, 2024

Section 31.03.12.06 - Grant of Written Consent

A. In General. If the Commissioner decides to grant the applicant's request for written consent, the Commissioner shall issue a written consent to the applicant.

B. Scope of Written Consent.

(1) The written consent shall be:

(a) Specific as to job duties; and

(b) Conditioned on the individual remaining in a position with substantially similar duties.

(2) If an individual who holds a written consent wishes to engage in additional duties within the business of insurance, the individual shall obtain a new written consent that includes those duties.

(3) If an individual who holds a written consent assumes significantly different job duties without obtaining a new written consent, the written consent of the individual is immediately invalidated.

(4) An individual who holds a written consent and changes employers is not required to obtain a new written consent if the individual's job duties with the new employer are substantially similar to the individual's job duties with the individual's former employer.

C. Truth and Veracity of Information.

(1) A written consent shall be conditioned on the truth and veracity of the documents and information submitted by or on behalf of the applicant.

(2) If the applicant has made materially false or misleading statements or has failed to disclose material information, the written consent is void ab initio.

D. Temporary Written Consent. The Commissioner may grant temporary written consent.

E. Notification of NAIC Members. If the Commissioner grants a request for written consent, the Commissioner shall notify all other members of the NAIC.

Md. Code Regs. 31.03.12.06