MARVIN MANDEL, Governor

3033

AN ACT concerning

Life Insurance — Consumer [[Cost]] Information

FOR the purpose of requiring the Insurance Commissioner
to compile and maintain data that should be
considered by the consumer regarding [[the cost of]]
life insurance; requiring the Commissioner to
publish in booklet or pamphlet form as much of this
data as he deems useful to explain [[the]] facts
relating to [[the true cost of]] life insurance
according to certain terms; and relating generally
to consumer [[cost]] information with respect to
life insurance to be published by the Insurance
Commissioner.

BY adding to

Article 48A - Insurance Code

Section 26B

Annotated Code of Maryland

(1972 Replacement Volume and 1974 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 26B be and it is hereby added
to Article 48A — Insurance Code, of the Annotated Code of
Maryland (1972 Replacement Volume and 1974 Supplement) to
read as follows:

Article 48A - Insurance Code

26B.

(A)    THE COMMISSIONER SHALL COMPILE AND MAINTAIN
DATA THAT SHOULD BE CONSIDERED BY THE CONSUMES REGARDING
[[THE COST OF]] LIFE INSURANCE.

(B)    THE COMMISSIONER SHALL MAINTAIN AND UPDATE THE
DATA, AND SHALL, AT LEAST ONCE ANNUALLY AFTER OCTOBER 1,
1976, PUBLISH IN PAMPHLET OR BOOKLET FORM AS MUCH OF THIS
DATA OR INFORMATION AS HE DEEMS USEFUL TO EXPLAIN TO THE
CONSUMER THE FACTS RELATING TO [[THE TRUE COST OF]] LIFE
INSURANCE [[IN TERMS OF "INTEREST ADJUSTED NET COST
BASIS" AND "NET COST BASIS" AND OTHER CONSUMER
INFORMATION DEEMED USEFUL BY THE COMMISSIONER]].

(C)   INFORMATION PROVIDED IN THE PAMPHLET OR BOOKLET
SHALL INCLUDE BUT IS NOT LIMITED TO:

(1) TYPES OF COMPANIES,

ill TYPES OF POLICIES,