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HARRY HUGHES, Governor
2075
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be repealed, amended, or enacted to read as follows: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 48A — Insurance Code
486F.
A premium finance agreement may provide for the payment
by the insured of a delinquency and collection charge on
each installment in default for a period of not less than
[five (5)] 5 days in an amount of Tone dollar ($1)] $1 to a
maximum not to exceed [five percent (5%)] 5 PERCENT of
[such] THE installment or [five dollars ($5.00)] $5,
whichever is less, provided that only one [such] delinquency
and collection charge may be collected on any [such]
installment regardless of the period during which it remains
in default; and if the default results in the cancellation
of any insurance contract listed in the agreement, the
agreement may provide for the payment by the insured of a
cancellation charge equal to the difference between any
delinquency and collection charge imposed in respect to the
installment in default and [five dollars ($5.00)] $10;
provided, however, that should the cancellation notice be
withdrawn prior to its effective date and the insurance
coverages reinstated, the agreement may provide for payment
by the insured of the same charges provided for above where
the cancellation is actually effected.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1979.
Approved May 29, 1979.
CHAPTER 728
(House Bill 1042)
AN ACT concerning
Montgomery County - Oakmont Special Tax Area
MC 238-79
FOR the purpose of providing a procedure for the
determination of compensation of members and officers
of the Oakmont Citizens' Committee and setting a
maximum amount of such compensation; revising the
limitation on expenditures for material or work without
advertising for bids; specifying notice and hearing
requirements for the adoption of certain regulations;
clarifying trial jurisdiction and arrest authority in
cases of alleged violations of those regulations; and
clarifying language.
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