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Ch. 194 2006 LAWS OF MARYLAND
(4) [a brief description of the insurance contracts involved and the
amount of the premium] AN ITEMIZED LIST FOR EACH INSURANCE CONTRACT OR
COVERAGE FINANCED UNDER THE PREMIUM FINANCE AGREEMENT THAT
INCLUDES:
(I) THE APPLICABLE APPLICATION NUMBER, BINDER NUMBER, OR
POLICY NUMBER;
(II) THE EFFECTIVE DATE OF THE INSURANCE CONTRACT OR
COVERAGE;
(III) THE NAME OF THE COMPANY ISSUING THE INSURANCE
CONTRACT OR COVERAGE; AND
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(IV) THE PREMIUM FOR THE INSURANCE CONTRACT OR COVERAGE;
(5) if applicable, the following items:
(i) the total amount of the premiums;
(ii) the amount of the down payment;
(iii) the principal balance (the difference between items (i) and (ii) of
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and
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this item);
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(iv) the amount of the finance charge;
(v) the balance payable by the insured (the sum of items (iii) and
(iv) of this item);
(vi) the number of installments required, the amount of each
installment expressed in dollars, and the due date or period of each installment; AND
(vii) [an itemized list for each insurance contract or coverage
financed under the premium finance agreement that includes:
1. the applicable prefix and number;
2. the effective date of the insurance contract or coverage;
3. the name of the company issuing the insurance contract or
coverage; and
4. the premium for the insurance contract or coverage; and
(viii)] the electronic payment fee.
(c) (1) The items set out in subsection (b)(5) of this section need not be
stated in the sequence in which they appear.
(2) Additional items may be included to explain the computations made
in determining the amount to be paid by the insured.
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- 924 -
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