HARRY HUGHES, Governor

1001

CHAPTER 264

(House Bill 1657)

AN ACT concerning

Credit Insurance

FOR the purpose of extending the maximum term of certain credit
transactions to which the credit life, credit health, and
involuntary unemployment benefit insurance law applies; and
generally relating to the term of credit insurance policies.

BY repealing and reenacting, with amendments,

Article 48A - Insurance Code

Section 436C(b)

Annotated Code of Maryland

(1979 Replacement Volume and 1985 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 48A - Insurance Code

436C.

(b) All involuntary unemployment benefit insurance, all
life insurance, and all health insurance in connection with loans
or other credit transactions shall be subject to the provisions
of this subtitle, except such insurance in connection with a loan
or other credit transaction of more than [eight] 10 years'
duration, nor shall insurance be subject to the provisions of
this subtitle if the issuance of the insurance is an isolated
transaction on the part of the insurer not related to an
agreement or a plan for insuring debtors of the creditor.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1986.

Approved April 29, 1986.