HARRY HUGHES, Governor

1311

Approved May 29, 1979.

CHAPTER 464

(Senate Bill 542)

AN ACT concerning

Credit Life and Health Insurance

FOR the purpose of eliminating a prohibition upon receipt of
commissions and other considerations by certain lenders
and creditors with respect to the sale of credit life
and health insurance to borrowers; providing that the
premium rates charged for such insurance on loans shall
be subject to a loss ratio guideline; and providing
that the Insurance Commissioner may establish certain
premium rates for credit life and health insurance, and
shall establish maximum rates of commission on credit
life and health insurance,

BY repealing and reenacting, with amendments,

Article — Commercial Law

Section 12-310(b) and 12-312(c)(3)

Annotated Code of Maryland

(1975 Volume and 1978 Supplement)

BY renumbering

Article 48A — Insurance Code

Section 436H(g)

to be Section 436H(h)

Annotated Code of Maryland

(1972 Replacement Volume and 1978 Supplement)

BY adding to

Article 48A — Insurance Code

Section 436C(c)(6) through (10), 436H(g), and 436-I(f)

Annotated Code of Maryland

(1972 Replacement Volume and 1978 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article — Commercial Law

12-310.