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2006 LAWS OF MARYLAND
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Ch. 194
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(II) IN THE CASE OF A CORPORATION OR LIMITED LIABILITY
COMPANY, A CERTIFICATE OF GOOD STANDING ISSUED BY THE STATE DEPARTMENT
OF ASSESSMENTS AND TAXATION; AND
(III) EVIDENCE OF COMPLIANCE WITH § 23-202 OF THIS SUBTITLE;
and
(2) pays to the Commissioner a renewal fee of $50.
(c) The Commissioner shall renew the registration of each registrant that
meets the requirements of this section.
23-206.
(A) The Commissioner shall require a premium finance company to report, on
forms provided by the Commissioner, changes in officers, directors, owners, trade
names, principals, partners, business addresses, and telephone numbers WITHIN 30
DAYS AFTER A CHANGE OCCURS.
(B) (1) A PREMIUM FINANCE COMPANY SHALL FILE ALL CHANGES TO:
(I) THE FORM OF THE PREMIUM FINANCE AGREEMENT USED BY
THE PREMIUM FINANCE COMPANY; AND
(II) THE FINANCE CHARGE, INITIAL SERVICE FEE, AND ANY OTHER
FEES AND CHARGES APPLIED BY THE PREMIUM FINANCE COMPANY.
(2) A PREMIUM FINANCE COMPANY MAY NOT USE A PREMIUM FINANCE
AGREEMENT FORM OR APPLY A FEE OR CHARGE UNLESS THE FILING REQUIRED
UNDER PARAGRAPH (1) OF THIS SUBSECTION IS APPROVED BY THE COMMISSIONER
(3) A PREMIUM FINANCE COMPANY SHALL DISCLOSE TO THE
COMMISSIONER, ON WRITTEN REQUEST, THE METHOD OR FORMULA USED TO
CALCULATE THE FINANCE CHARGES AND AMOUNT OF REFUND ON CANCELLATION
OF THE INSURANCE CONTRACT.
23-208.
(a) Subject to the hearing provisions of Title 2 of this article, the
Commissioner may deny a registration to an applicant or suspend, revoke, or refuse
to renew the registration of a registrant if the Commissioner finds that the applicant
or registrant has:
(1) failed to comply with a lawful requirement of the Commissioner
under this title;
(2) violated a provision of this title;
(3) made a material misstatement in the application for registration;
(4) engaged in fraudulent or dishonest practices; or
(5) demonstrated incompetency or untrustworthiness to engage in the
business of a premium finance company.
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- 922 -
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