§ 10–206
Statutes in effect as of October 1, 2026.
Md. Code Ann., Ins. § 10-206 (2026)
Title 10. Regulation of Insurance Professions
Subtitle 2. Advisers
§ 10–206LinkCopy Citation
An applicant for a license shall file with the Commissioner a bond that:
(1)
is approved by the Commissioner as to form and sufficiency of security;
(2)
is executed by the applicant and an authorized surety insurer;
(3)
is in the penal sum of $1,000;
(4)
is conditioned on the applicant faithfully performing the duties of an adviser;
(5)
runs to the State; and
(6)
specifically authorizes the State to recover the penal sum of the bond if the applicant is guilty of fraudulent or dishonest practices while acting as an adviser.