MARVIN MANDEL, Governor

4041

House Bill No. 1116 — Service Charge for Insurance
Premium Finance Agreements

AN ACT concerning

Premium Finance Agreements — Service Charge

FOR the purpose of charging the maximum service charge
which may be imposed on an insured, in a premium
finance agreement, providing for certain notices,
and to correct language.

May 15, 1975.
Honorable John Hanson Briscoe
Speaker of the House of Delegates
State House
Annapolis, Maryland

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the
Maryland Constitution, I have today vetoed House Bill
1116.

This bill changes the maximum service charge which
may be imposed on an insured in a premium finance
agreement, and provides for certain notices.

Senate Bill 693, which was enacted by the General
Assembly and signed by me on May 15, 1975, accomplishes
the same purpose as House Bill 1116. Although Senate
Bill 693 does not contain the notice provisions of House
Bill 1116, the basic objective of increasing the service
charge on a premium finance agreement has been achieved
by the enactment and signing of Senate Bill 693.

For this reason, I have decided to veto House Bill
1116.

Sincerely,

/s/ Marvin Mandel

Governor

House Bill No. 1137 — Montgomery County; Tax