(a) In this section, "death master file" means: (1) The Social Security Administration Death Master File; or (2) Any other database or service that is at least as comprehensive as the Social Security Administration Death Master File for determining that an individual reportedly has died. (b) For purposes of this section: (1) A death master file match described under subsection (c)(3) and (4) of this section occurs if the criteria for an exact or partial match are satisfied as provided by: (i) The Insurance Article; or (ii) A rule or policy adopted by the Maryland Insurance Commissioner. (2) A death master file match or validation of the insured's or annuitant's death does not alter the requirements for a beneficiary, annuitant, or owner of the policy or contract to make a claim to receive proceeds under the terms of the policy or contract. (3) An insured or an annuitant is presumed dead if the date of the insured's or annuitant's death is indicated by a death master file match described under subsection (c)(3) and (4) of this section, unless the insurance company has competent and substantial evidence that the insured or annuitant is living, including a contact made by the company with the insured or annuitant or the insured's or annuitant's legal representative. (c) With respect to a life or endowment insurance policy or annuity contract for which an amount is owed on proof of death, but that has not matured by proof of death of the insured or annuitant, the insurance company shall be deemed to have knowledge of the death of an insured or annuitant when: (1) The company receives a death certificate or court order determining that the insured or annuitant has died; (2) The company receives notice of the death of the insured or annuitant from: (i) The Administrator or an unclaimed property administrator of another state; (ii) A beneficiary; (iii) A policy owner; (iv) A relative of the insured or annuitant; (v) A representative of the insured or annuitant, including an administrator, a guardian, a standby guardian, or a temporary guardian; or (vi) An executor or other legal representative of the insured's or annuitant's estate; (3) (i) The company conducts a comparison for any purpose between a death master file and the names of some or all of the company's insureds or annuitants; and (ii) Finds a match that provides notice that the insured or annuitant has died; or (4) (i) The Administrator or the Administrator's agent in the normal course of business conducts a comparison for the purpose of finding matches between a death master file and the names of some or all of the company's insureds or annuitants; and (ii) Finds a match that provides notice that the insured or annuitant has died. (d) A holder of funds under § 17-302 of this subtitle shall, on at least an annual basis: (1) Conduct a death master file examination and comparison described under subsection (c)(3) of this section on all insureds and annuitants; and (2) Make a record of the date on which any examination and comparison under item (1) of this subsection occurs.
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