(a) The Commissioner may suspend, revoke, or refuse to renew a limited lines license issued under this subtitle after notice and opportunity for a hearing under Title 2, Subtitle 2 of this article if the self-service storage producer or an employee or authorized representative of the self-service storage producer who offers or sells limited lines insurance on behalf of the self-service storage producer has: (1) willfully violated this article or another law of the State that relates to insurance; (2) operated without a limited lines license as required under this subtitle; (3) failed to provide the disclosures required under § 10-806 of this subtitle; (4) offered or sold unapproved insurance products; (5) failed to train employees or authorized representatives as required under § 10-808 of this subtitle; or (6) misrepresented pertinent facts or policy provisions concerning a policy for a self-service storage facility. (b) Instead of, or in addition to, suspending or revoking a limited lines license issued under this subtitle, the Commissioner may: (1) impose on the self-service storage producer a penalty of not more than $2,500 for each violation of this subtitle; and (2) require that restitution be made to any person who has suffered financial injury because of a violation of this subtitle.
‹ Prev All Maryland sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.