Marvin Mandel, Governor                           985

if they conform with the requirements specified in said subsections
and if the schedules of premium rates applicable to the insurance
evidenced by the certificate or notice are not in excess of the in-
surer's schedules of premium rates filed, with the Commissioner; pro-
vided, however, the premium rate in effect on existing group policies
may be continued until the first policy anniversary date following
the date this subtitle becomes operative as provided in Section 436M
of this Article.

(g) Any order or final determination of the Commissioner under
the provisions of this section shall be subject to judicial review.

436-I. Premiums and Refunds.

(a)    Any insurer may revise its schedules of premium rates from
time to time, and shall file the revised schedules with the Commis-
sioner for approval. No insurer shall issue any credit life insurance
policy or credit health insurance policy for which the premium rate
exceeds that determined by the schedules of the insurer then on file
with the Commissioner.

(b)    Each individual policy or group certificate shall provide that
in the event of termination of the insurance prior to the scheduled
maturity date of the indebtedness, any refund of an amount paid by
the debtor for insurance shall be paid or credited promptly to the
person entitled thereto; provided, however, that the Commissioner
shall prescribe a minimum refund, and no refund which would be
less than such minimum need be made. The formula to be used in
computing the refund shall be filed with and approved by the Com-
missioner.

(c)    If a creditor requires a debtor to make any payment for
credit life insurance or credit health insurance and an individual
policy or group certificate of insurance is not issued, the creditor
shall immediately give written notice to the debtor and shall promptly
make an appropriate credit to the account.

(d)    The amount charged to a debtor for any credit life or credit
health insurance shall not exceed the aggregate of the premiums to
be charged by the insurer, as computed at the time the charge to the
debtor is determined.

(e)    Nothing in this subtitle shall be construed to authorize any
payments for insurance now prohibited under any statute, or rule
thereunder, governing credit transactions.

436J. Issuance of Policies.

All policies of credit life insurance and credit health insurance
shall he delivered or issued for delivery in this State only by an
insurer authorized to do an insurance business therein and shall be
issued only through holders of licenses or authorizations issued by
the Commissioner.

436K. Claims.

(a) All claims shall be promptly reported to the insurer or its
designated claim representative, and the insurer shall maintain ade-
quate claim files. All claims shall be settled as soon as possible and in
accordance with the terms of the insurance contract.