{"data":{"id":"us-md/md.-code-insurance-8-507","jurisdiction":"us-md","citation":"Md. Code, Insurance § 8–507","heading":"","body":"(a) The Commissioner shall issue a license to each applicant that:\n(1) meets the requirements of this subtitle; and\n(2) pays the applicable fee for a license for an insurance producer under § 2-112 of this article.\n(b) (1) In this subsection, “controlling person” means a person that directly or indirectly has the power to direct, or cause to be directed, the management, control, or activities of a reinsurance intermediary.\n(2) The Commissioner may refuse to issue a license if the Commissioner finds that the applicant, an individual named on the application, a member, principal, officer, or director of the applicant, or a controlling person of the applicant:\n(i) is not trustworthy to act as a reinsurance intermediary;\n(ii) has given cause for revocation or suspension of a license; or\n(iii) has failed to comply with a requirement for issuance of a license.\n(3) On written request, the Commissioner shall provide a summary of the basis for the refusal to issue a license.\n(4) The summary of the basis for refusal is privileged and is not a public document under Title 10, Subtitle 6 of the State Government Article.","path":["Article - Insurance"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gin\u0026section=8-507","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:28Z","sha256":"dfe6922d3fed879cc861ae1f0d5006b00252d4f57cb4c70a08ee2bc3b2f308e6","source_id":"us-md","stale":false,"prev":"us-md/md.-code-insurance-8-506","next":"us-md/md.-code-insurance-8-508"},"notice":"GroundRules: Original legal text. Not legal advice."}