The purpose of this chapter is to protect seniors and retirees as purchasers of health insurance, life insurance, and annuity contracts, against the use of sales methods which are misleading. This chapter applies to advisors and insurance producers. Under this chapter it is a violation of Insurance Article, Title 27, Annotated Code of Maryland, to use a senior specific designation or certification in a way that misleads or would mislead any person to indicate that the user has special certification or training in advising or serving senior citizens or retirees: When advising about life insurance, health insurance, or annuities; or In connection with the offer, sale, or purchase of life insurance, health insurance, or annuities. In this chapter, the following terms have the meanings indicated. Terms Defined. “Advisor” has the meaning stated in Insurance Article, §10-201, Annotated Code of Maryland. “Annuity” means annuity as defined in Insurance Article, §1-101, Annotated Code of Maryland. “Commissioner” means the Maryland Insurance Commissioner. “Financial services regulatory agency” includes, for the purposes of this chapter, an agency that regulates broker-dealers, investment advisers, or investment companies as defined under the Investment Company Act of 1940. “Health insurance” has the meaning stated in Insurance Article, §1-101, Annotated Code of Maryland. “Life insurance” has the meaning stated in Insurance Article, §1-101, Annotated Code of Maryland. “Insurance producer” has the meaning stated in Insurance Article, §1-101, Annotated Code of Maryland. The prohibited use of a certification or professional designation includes the following: Use of certification or professional designation by a person who has not actually earned or is ineligible to use the certification or designation; Use of nonexistent or self-conferred certification or professional designation; Use of certification or professional designation that indicates a level of occupational qualifications obtained through education, training, or experience that the user does not have; and Use of a certification or professional designation that was obtained from a designating or certifying organization that: Is primarily engaged in the business of instruction in sales, marketing, or sales and marketing; Does not have reasonable standards or procedures for assuring the competency of its designees or certificate holders; Does not have reasonable standards or procedures for monitoring and disciplining it designees or certificate holders for improper or unethical conduct; or Does not have reasonable continuing education requirements for its designees or certificate holders in order to maintain the designation or certification. There is a rebuttable presumption that a designating or certifying organization is not disqualified solely for purposes of this chapter if: The organization has been accredited by: The American National Standards Institute or The National Commission for Certifying Agencies; or The organization is on the United States Department of Education’s list entitled “Accrediting Agencies Recognized for Title IV Purposes” and the issued designation or credential does not primarily apply to sales, marketing, or sales and marketing. The following factors shall be considered when determining whether a combination of words, or an acronym standing for a combination of words constitutes a certification or professional designation indicating or implying that a person has special certification or training in advising or servicing senior citizens or retirees: Use, in the name of the certification or professional designation, of one or more words such as “senior”, “retirement,” “elder”, or similar terms, combined with one or more words such as “certified”, “registered”, “chartered”, “adviser”, “specialist”, “consultant”, “planner”, or similar terms; and The manner in which the words described in §B(1) of this regulation are combined. For purposes of this chapter, a certification or professional designation does not include a job title within an organization that is licensed or registered by a state or federal financial services regulatory agency, when that job title: Indicates seniority or standing within the organization; or Specifies an individuals’ area of specialization within the organization. Nothing in this chapter shall limit the Commissioner’s authority to enforce existing provisions of law. Insurance Article, §§2-109(a)(1), 10-212, 27-201, and 27-223, Annotated Code of Maryland Effective date: April 4, 2011 (38:7 Md. R. 433)