(a) The Commissioner shall issue a license to each applicant that: (1) meets the requirements of this subtitle; and (2) pays the applicable fee for a license for an insurance producer under § 2-112 of this article. (b) (1) In this subsection, 'controlling person' means a person that directly or indirectly has the power to direct, or cause to be directed, the management, control, or activities of a reinsurance intermediary. (2) The Commissioner may refuse to issue a license if the Commissioner finds that the applicant, an individual named on the application, a member, principal, officer, or director of the applicant, or a controlling person of the applicant: (i) is not trustworthy to act as a reinsurance intermediary; (ii) has given cause for revocation or suspension of a license; or (iii) has failed to comply with a requirement for issuance of a license. (3) On written request, the Commissioner shall provide a summary of the basis for the refusal to issue a license. (4) The summary of the basis for refusal is privileged and is not a public document under Title 10, Subtitle 6 of the State Government Article.
Maryland Legal Code