Qualification to Sell Variable Annuity Contracts. A person may not sell or offer for sale in this State any variable annuity contract unless the person is a producer and has filed with the Commissioner, in a form satisfactory to the Commissioner, evidence that the person holds a license and other authorizations which may be required by any federal or State securities law for the solicitation, sale, or negotiation of variable annuities. A person may not in this State solicit, sell, or act or aid in any manner in the negotiation of any variable contract unless the person has been so qualified in accordance with the provisions of Insurance Article, §§10-105 and 10-109, Annotated Code of Maryland, and is licensed by the Commissioner to act as a producer with life and variable lines of authority. Reports of Disciplinary Actions and Criminal Prosecution. A person qualified in this State under this regulation to act as a producer of variable annuity contracts shall report to the Commissioner in accordance with Insurance Article, §§10-126(f) and (g), Annotated Code of Maryland: Suspension or revocation of a producer license in any other state or territory of the United States; Imposition of disciplinary sanction, including: Suspension or expulsion from membership; or Suspension, revocation, or denial of registration imposed on the producer by any national securities exchange or national securities association or any federal, state, or territorial agency with jurisdiction over securities or variable annuity contracts; Judgment or injunction entered against the producer on the basis of conduct deemed to have involved fraud, deceit, misrepresentation, or violation of any insurance or securities law or regulation; or Criminal prosecution as defined in Insurance Article, §10-126(g), Annotated Code of Maryland. Refusal to Qualify Producer to Sell Variable Annuity Contracts—Suspension, Revocation, or Nonrenewal of Qualification. The Commissioner may reject an application or suspend, revoke, or refuse to renew producer’s qualification under this regulation to solicit, sell, or negotiate variable annuity contracts upon any ground that would bar the applicant or producer from being licensed to solicit, sell, or negotiate life insurance policies in this State. The rules governing proceedings relating to the rejection of a producer’s application, suspension or revocation of a producer’s license, or refusal to renew a producer’s license shall also govern proceedings under this regulation.