Md. Code Regs. 31.15.03.03 - Scope

Current through Register Vol. 48, No. 26, December 17, 2021

A. With the exception of §C of this regulation, this chapter applies to a solicitation, negotiation, or procurement of life insurance occurring within this State.
B. Regulation .05D of this chapter applies only to an existing nonexempt policy held by a policyowner residing in Maryland.
C. Unless otherwise specifically included, this chapter does not apply to:
(1) Individual and group annuity contracts;
(2) Credit life insurance;
(3) Group life insurance, except for disclosures relating to preneed funeral contracts or prearrangements;
(4) Life insurance policies issued in connection with pension and welfare plans as defined by and subject to the federal Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C. § 1001 et seq., as amended; or
(5) Variable life insurance under which the amount or duration of the life insurance varies according to the investment experience of a separate account.

Notes

Md. Code Regs. 31.15.03.03
Regulations .03, Solicitation of Life Insurance, repealed and new .03, Life Insurance Disclosure, adopted effective May 18, 2009 (36:10 Md. R. 719)

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