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<chapter num="10" heading="Advisers" title_num="31" subtitle_num="03">
  <regulation prefix="Regulation" num=".01" heading="Definitions.">
    <paragraph num="A.">
      <text>In this chapter, the following terms have the meanings indicated.</text>
    </paragraph>
    <paragraph num="B.">
      <text>Terms Defined.</text>
      <paragraph num="(1)">
        <text>“Adviser” has the meaning stated in Insurance Article, §10-201(b), Annotated Code of Maryland.</text>
      </paragraph>
      <paragraph num="(2)">
        <text>“Licensed insurance producer” has the meaning stated in Insurance Article, §1-101(w), Annotated Code of Maryland.</text>
      </paragraph>
    </paragraph>
  </regulation>
  <regulation prefix="Regulation" num=".02" heading="Representation by Member of Trade Association.">
    <paragraph num="A.">
      <text>In General. A person is not required to be licensed as an adviser under Insurance Article, §10-203, Annotated Code of Maryland, in order to represent to the public that the person is a member of a trade association or similar organization that uses the term “insurance adviser” or a similar term in the name of the association or organization if the person:</text>
      <paragraph num="(1)">
        <text>Is a member in good standing of the trade association or similar organization at the time that the person makes the representation;</text>
      </paragraph>
      <paragraph num="(2)">
        <text>Does not otherwise act as an adviser or represent that the person is an adviser; and</text>
      </paragraph>
      <paragraph num="(3)">
        <text>Makes the representation in accordance with the requirements of §B of this regulation.</text>
      </paragraph>
    </paragraph>
    <paragraph num="B.">
      <text>Manner of Representation. A person who otherwise qualifies to make a representation under §A of this regulation may make the representation only if the person:</text>
      <paragraph num="(1)">
        <text>Expressly qualifies the representation by use of a disclaimer such as “not a licensed insurance adviser” or, if the person is a licensed insurance producer, “licensed insurance producer only”; or</text>
      </paragraph>
      <paragraph num="(2)">
        <text>Makes the representation:</text>
        <paragraph num="(a)">
          <text>During a meeting of the trade association or similar organization held for the purpose of conducting the association's or organization's general business activities;</text>
        </paragraph>
        <paragraph num="(b)">
          <text>In a newspaper, newsletter, e-mail, or similar publication or electronic communication that is intended to be distributed only to members of the trade association or similar organization;</text>
        </paragraph>
        <paragraph num="(c)">
          <text>While soliciting a person to become a member of the trade association or similar organization; or</text>
        </paragraph>
        <paragraph num="(d)">
          <text>During an approved continuing education class for licensed insurance producers.</text>
        </paragraph>
      </paragraph>
    </paragraph>
    <paragraph num="C.">
      <text>Manner of Disclaimer. A person who is required to make a disclaimer under §B(1) of this regulation shall make the disclaimer:</text>
      <paragraph num="(1)">
        <text>At the same time and in the same medium as the representation; and</text>
      </paragraph>
      <paragraph num="(2)">
        <text>If the representation is made in writing, on the same document or screen close to the representation.</text>
      </paragraph>
    </paragraph>
  </regulation>
  <annotations>
    <annotation type="Authority">Insurance Article, §§2-109, 10-202, and 10-203, Annotated Code of Maryland</annotation>
    <annotation type="History" subtype="Administrative History">Effective date: January 21, 2002 (29:1 Md. R. 26)</annotation>
  </annotations>
</chapter>