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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) Except as otherwise provided in §§ 10-102, 10-119, and 10-122 of this subtitle and § 10-602 of this title, a commission, fee, reward, rebate, or other consideration for selling, soliciting, or negotiating insurance may not be paid, directly or indirectly, to a person other than a licensed insurance producer.
(b) Except as otherwise provided in this article, for life insurance or health insurance this section does not prohibit payment to or receipt by a person who formerly held a license and, if the person acted on behalf of an insurer, an appointment of:
(1) commissions on renewal premiums on existing policies; or
(2) other deferred commissions.
(c) Unless the payment would violate § 27-209 or § 27-212 of this article, an insurer or insurance producer may pay or assign commissions, service fees, or other valuable consideration to an insurance agency or to persons who do not sell, solicit, or negotiate insurance in the State.
Cite this article: FindLaw.com - Maryland Code, Insurance § 10-130 - last updated January 01, 2025 | https://codes.findlaw.com/md/insurance/md-code-insurance-sect-10-130/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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