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Ch. 182 2006 LAWS OF MARYLAND
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amount of funds MUST BE OBTAINED FROM OTHER SOURCES for a capital project for
additional or expanded public road facilities on the same road project on the state
highway that is within Frederick County.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 2006.
Approved April 25, 2006.
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CHAPTER 182
(House Bill 597)
AN ACT concerning
Insurance - Unfair Trade Practices Prohibited Acts - Inducements to
Financing an Insurance Contract
FOR the purpose of prohibiting a an insurance producer, employee of an insurance
producer, or other person from accepting, directly or indirectly, any valuable
consideration as an inducement to financing an insurance contract with a
premium finance company facilitate an agreement to finance a certain
insurance premium; and generally relating to inducements to financing
insurance contracts.
BY adding to repealing and reenacting, with amendments,
Article — Insurance
Section 27 332 23-502
Annotated Code of Maryland
(2002 Replacement Volume and 2005 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Insurance
27-222.
A PERSON MAY NOT ACCEPT, DIRECTLY OR INDIRECTLY, ANY VALUABLE
CONSIDERATION AS AN INDUCEMENT TO FINANCING AN INSURANCE CONTRACT
WITH A PREMIUM FINANCE COMPANY.
23-502.
(A) A person may not pay any part of an initial service fee or any other fee or
charge to an insurance producer, employee of an insurance producer, or to any other
person as an inducement to financing an insurance contract with a premium
financing company.
(B) AN INSURANCE PRODUCER EMPLOYEE OF AN INSURANCE PRODUCER, OR
ANY OTHER PERSON MAY NOT ACCEPT, DIRECTLY OR INDIRECTLY, ANY VALUABLE
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