§ 8-503. License required; qualifications of reinsurance intermediaries.
(a) Scope of section.- This section does not apply to a lawyer admitted to the bar of the State while acting within the scope of the profession of the lawyer.
(b) In general.-
(1) Except as otherwise provided in paragraph (2) of this subsection, before a person acts as a reinsurance manager or reinsurance broker in the State, the person:
(i) in the case of a person that maintains an office in the State:
1. must obtain a license under this subtitle; or
2. must qualify as an insurance producer under Title 10, Subtitle 1 of this article; or
(ii) in the case of a person that maintains an office in another state:
1. must obtain a license under this subtitle or under a law of another state that is substantially similar to this subtitle; or
2. must qualify as an insurance producer under Title 10, Subtitle 1 of this article or under a law of another state that is substantially similar to Title 10, Subtitle 1 of this article.
(2) Before a person acts as a reinsurance manager for a reinsurer domiciled in the State, the person must:
(i) obtain a license under this subtitle; or
(ii) qualify as an insurance producer under Title 10, Subtitle 1 of this article.
(3) This subsection applies to a person that maintains an office in the State either directly or as a member or employee of a firm or association or as an officer, director, or employee of a corporation that maintains an office in the State.
§ 8-503. License required; qualifications of reinsurance intermediaries.
(a) Scope of section.- This section does not apply to a lawyer admitted to the bar of the State while acting within the scope of the profession of the lawyer.
(b) In general.-
(1) Except as otherwise provided in paragraph (2) of this subsection, before a person acts as a reinsurance manager or reinsurance broker in the State, the person:
(i) in the case of a person that maintains an office in the State:
1. must obtain a license under this subtitle; or
2. must qualify as an insurance producer under Title 10, Subtitle 1 of this article; or
(ii) in the case of a person that maintains an office in another state:
1. must obtain a license under this subtitle or under a law of another state that is substantially similar to this subtitle; or
2. must qualify as an insurance producer under Title 10, Subtitle 1 of this article or under a law of another state that is substantially similar to Title 10, Subtitle 1 of this article.
(2) Before a person acts as a reinsurance manager for a reinsurer domiciled in the State, the person must:
(i) obtain a license under this subtitle; or
(ii) qualify as an insurance producer under Title 10, Subtitle 1 of this article.
(3) This subsection applies to a person that maintains an office in the State either directly or as a member or employee of a firm or association or as an officer, director, or employee of a corporation that maintains an office in the State.
§ 8-503. License required; qualifications of reinsurance intermediaries.
(a) Scope of section.- This section does not apply to a lawyer admitted to the bar of the State while acting within the scope of the profession of the lawyer.
(b) In general.-
(1) Except as otherwise provided in paragraph (2) of this subsection, before a person acts as a reinsurance manager or reinsurance broker in the State, the person:
(i) in the case of a person that maintains an office in the State:
1. must obtain a license under this subtitle; or
2. must qualify as an insurance producer under Title 10, Subtitle 1 of this article; or
(ii) in the case of a person that maintains an office in another state:
1. must obtain a license under this subtitle or under a law of another state that is substantially similar to this subtitle; or
2. must qualify as an insurance producer under Title 10, Subtitle 1 of this article or under a law of another state that is substantially similar to Title 10, Subtitle 1 of this article.
(2) Before a person acts as a reinsurance manager for a reinsurer domiciled in the State, the person must:
(i) obtain a license under this subtitle; or
(ii) qualify as an insurance producer under Title 10, Subtitle 1 of this article.
(3) This subsection applies to a person that maintains an office in the State either directly or as a member or employee of a firm or association or as an officer, director, or employee of a corporation that maintains an office in the State.
