(a) In general.- In this subtitle the following words have the meanings indicated.
Revisor's Note.
This subsection formerly was Art. 48A, § 661(a).
The only changes are in style.
(b) Control; controlling; controlled by; under common control with.- "Control", "controlling", "controlled by", or "under common control with" means the direct or indirect possession of the power to direct or cause the direction of the management and policies of a person, through ownership of voting securities or of securities convertible into voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise, whether or not the power is exercised or sought to be exercised.
Special Revisor's Note.
Chapter 57, Acts of 1997, added this subsection, which was new language derived without substantive change from the first sentence of former Art. 48A, § 661(c).
Defined Terms.
"Person" § 1-101
(c) Controlled insurer.- "Controlled insurer" means an insurer that is under the control of a controlling insurance producer.
Revisor's Note.
This subsection is new language added to avoid repetition of phrases such as "insurer that is under the control of a controlling broker".
Defined Terms.
"Control" § 8-101
"Controlling broker" § 8-101
"Insurer" § 1-101
(d) Controlling insurance producer.- "Controlling insurance producer" means an insurance producer that has control of a controlled insurer.
Revisor's Note.
This subsection is new language added to avoid repetition of phrases such as "broker who has control of a controlled insurer".
(a) In general.- In this subtitle the following words have the meanings indicated.
Revisor's Note.
This subsection formerly was Art. 48A, § 661(a).
The only changes are in style.
(b) Control; controlling; controlled by; under common control with.- "Control", "controlling", "controlled by", or "under common control with" means the direct or indirect possession of the power to direct or cause the direction of the management and policies of a person, through ownership of voting securities or of securities convertible into voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise, whether or not the power is exercised or sought to be exercised.
Special Revisor's Note.
Chapter 57, Acts of 1997, added this subsection, which was new language derived without substantive change from the first sentence of former Art. 48A, § 661(c).
Defined Terms.
"Person" § 1-101
(c) Controlled insurer.- "Controlled insurer" means an insurer that is under the control of a controlling insurance producer.
Revisor's Note.
This subsection is new language added to avoid repetition of phrases such as "insurer that is under the control of a controlling broker".
Defined Terms.
"Control" § 8-101
"Controlling broker" § 8-101
"Insurer" § 1-101
(d) Controlling insurance producer.- "Controlling insurance producer" means an insurance producer that has control of a controlled insurer.
Revisor's Note.
This subsection is new language added to avoid repetition of phrases such as "broker who has control of a controlled insurer".
(a) In general.- In this subtitle the following words have the meanings indicated.
Revisor's Note.
This subsection formerly was Art. 48A, § 661(a).
The only changes are in style.
(b) Control; controlling; controlled by; under common control with.- "Control", "controlling", "controlled by", or "under common control with" means the direct or indirect possession of the power to direct or cause the direction of the management and policies of a person, through ownership of voting securities or of securities convertible into voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise, whether or not the power is exercised or sought to be exercised.
Special Revisor's Note.
Chapter 57, Acts of 1997, added this subsection, which was new language derived without substantive change from the first sentence of former Art. 48A, § 661(c).
Defined Terms.
"Person" § 1-101
(c) Controlled insurer.- "Controlled insurer" means an insurer that is under the control of a controlling insurance producer.
Revisor's Note.
This subsection is new language added to avoid repetition of phrases such as "insurer that is under the control of a controlling broker".
Defined Terms.
"Control" § 8-101
"Controlling broker" § 8-101
"Insurer" § 1-101
(d) Controlling insurance producer.- "Controlling insurance producer" means an insurance producer that has control of a controlled insurer.
Revisor's Note.
This subsection is new language added to avoid repetition of phrases such as "broker who has control of a controlled insurer".
