MARVIN MANDEL, Governor                                411

(i) BENEFITS NOT EXCEEDING THE THEN SCHEDULED
UNPAID TOTAL OF PAYMENTS OF THE LOAN;

(ii) A WAITING PERIOD OF AT LEAST 14 DAYS;
AND

(iii) PERIODIC BENEFITS THE AMOUNT OF EACH OF

WHICH MAY NOT EXCEED THE ORIGINALLY SCHEDULED TOTAL OF

PAYMENTS UNDER THE LOAN CONTRACT, DIVIDED BY THE NUMBER
OF INSTALLMENTS.

(C)   INSURANCE COMPANIES AND RATES.

UNDER THIS SUBTITLE, INSURANCE MAY BE OBTAINED ONLY:

(1)   FROM AN INSURANCE COMPANY QUALIFIED TO DO
BUSINESS IN THE STATE; AND

(2)   UNLESS THE INSURANCE RATES ARE FIXED BY
LAW, AT RATES NOT EXCEEDING THOSE APPROVED BY THE
INSURANCE DIVISION OF THE DEPARTMENT OF LICENSING AND
REGULATION.

(D)   CONDITION FOR RECEIPT OF COMMISSION.

THIS SUBTITLE DOES NOT AUTHORIZE THE RECEIPT OF A
COMMISSION OR SIMILAR COMPENSATION IN CONNECTION WITH THE
WRITING, PLACING, OR SERVICING OF INSURANCE BY ANY PERSON
WHO IS NOT:

(1) A LICENSED BROKER OR AGENT; OR

(2) OTHERWISE AUTHORIZED BY THE INSURANCE
DIVISION OF THE DEPARTMENT OF LICENSING AND REGULATION.

REVISOR'S NOTE: This section presently appears as
Art. 58A, §18.

In subsection (a)(1) of this section,
reference to a loan "under this article" is
deleted as unnecessary in light of the
definition of "loan" in §12-201.

In subsection (a) (2) of this section, the
phrase "as a condition precedent to the making
of a loan" is deleted as unnecessary.

In subsection (a)(4) of this section, the
phrase "if...paid by the lender" is added for
purposes of clarity.

In subsection (c)(2) of this section, the
words "approved by" are used for purposes of
clarity.