Md. Code Regs. 31.15.03.03

Current through Register Vol. 51, No. 21, October 18, 2024

Section 31.15.03.03 - Scope

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.

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Regulations .03, Solicitation of Life Insurance, repealed and new .03, Life Insurance Disclosure, adopted effective May 18, 2009 (36:10 Md.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