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Maryland Senate Bill 73 – Life Insurance and Annuities Record Retention

May 9, 2019

Legislature adjourned April 8, 2019

Senate Bill 73 – Life Insurance and Annuities Record Retention

Signed by Governor April 18, 2019 | Effective October 1, 2019

Creates new Md. Ins. Code § 16-120 to require insurers, except as otherwise provided in certain provisions of law, to maintain records of certain insurance transactions for at least 7 years after an individual or group policy of life insurance or an individual or group annuity is no longer in effect.