(a) In general.- An insurer, a member of an insurance holding company system, or any other person may file with the Commissioner a disclaimer of affiliation with an authorized insurer that fully discloses:
(1) all material relationships and bases for affiliation between the person filing the disclaimer and the authorized insurer; and
(2) the basis for disclaiming the affiliation.
(b) Disallowance.- After giving all parties in interest notice and an opportunity to be heard, the Commissioner may disallow a disclaimer based on specific findings of fact.
(c) Effect of filing disclaimer.- An insurer is relieved of any duty to register or report under this subtitle that arises out of the insurer's relationship with the person filing the disclaimer:
(1) from the date the disclaimer is filed; and
(2) until the Commissioner disallows the disclaimer.
(a) In general.- An insurer, a member of an insurance holding company system, or any other person may file with the Commissioner a disclaimer of affiliation with an authorized insurer that fully discloses:
(1) all material relationships and bases for affiliation between the person filing the disclaimer and the authorized insurer; and
(2) the basis for disclaiming the affiliation.
(b) Disallowance.- After giving all parties in interest notice and an opportunity to be heard, the Commissioner may disallow a disclaimer based on specific findings of fact.
(c) Effect of filing disclaimer.- An insurer is relieved of any duty to register or report under this subtitle that arises out of the insurer's relationship with the person filing the disclaimer:
(1) from the date the disclaimer is filed; and
(2) until the Commissioner disallows the disclaimer.
(a) In general.- An insurer, a member of an insurance holding company system, or any other person may file with the Commissioner a disclaimer of affiliation with an authorized insurer that fully discloses:
(1) all material relationships and bases for affiliation between the person filing the disclaimer and the authorized insurer; and
(2) the basis for disclaiming the affiliation.
(b) Disallowance.- After giving all parties in interest notice and an opportunity to be heard, the Commissioner may disallow a disclaimer based on specific findings of fact.
(c) Effect of filing disclaimer.- An insurer is relieved of any duty to register or report under this subtitle that arises out of the insurer's relationship with the person filing the disclaimer:
(1) from the date the disclaimer is filed; and
(2) until the Commissioner disallows the disclaimer.
