Prohibited Provisions. A wholesale life insurance policy may not contain any provision which is prohibited under Insurance Article, §12-209 or 16-216, Annotated Code of Maryland. Limitations of Liability. A wholesale life insurance policy may not contain any limitation of liability which is less favorable to the policyholder than limitations permitted under Insurance Article, §16-215, Annotated Code of Maryland. Separate Agreements. A separate agreement may not be entered into between the insurer and the sponsor which would purport to change the terms and conditions of any wholesale life insurance policy delivered to an employee or member.