# COMAR Title 31 — Maryland Insurance Administration

## Subtitle 09 — Life Insurance and Annuities

### Chapter 12 — Suitability in Annuity Transactions

#### Regulation .09 Compliance and Penalties.

*COMAR 31.09.12.09*

A. An insurer is responsible for compliance with this chapter.

B. If a violation of this chapter occurs, because of either the action or the inaction of the insurer or its producer, the Commissioner may order:

  (1) An insurer to take reasonably appropriate corrective action for any consumer harmed by the insurer’s, or by its producer’s, violation of this chapter;

  (2) A general agency, independent agency, or a producer to take reasonably appropriate corrective action for any consumer harmed by the producer’s violation of this chapter; and

  (3) Appropriate penalties and sanctions.

C. Penalties.

  (1) A producer who violates this chapter is subject to a penalty or other appropriate sanction under Insurance Article, §10-126, Annotated Code of Maryland.

  (2) An insurer that violates this chapter is subject to a penalty or other appropriate sanction under Insurance Article, §4-113, Annotated Code of Maryland.