Ch. 36                                     1995 LAWS OF MARYLAND

Defined terms: "Annuity" § 1-101
"Annuity contract" § 1-101
"Health insurance" § 1-101
"Insurance" § 1-101
"Insurer" § 1-101
"Life insurance" § 1-101
"Person" § 1-101
"Policy" § 1-101
"State" § 1-101

12-210. EXTENSION OF GRACE PERIOD ON LIFE, ACCIDENT, OR HEALTH INSURANCE
POLICY.

(A)     IN GENERAL.

ON ADVANCE WRITTEN NOTICE TO AN INSURER, THE COMMISSIONER MAY
EXTEND BY A MAXIMUM OF 60 DAYS THE GRACE PERIOD FOR MAKING PREMIUM
PAYMENTS ON LIFE INSURANCE, ACCIDENT, AND HEALTH INSURANCE POLICIES IF:

(1)     AN EMERGENCY SITUATION EXISTS THAT WOULD DELAY OR
PREVENT THE PROMPT AND ORDERLY PAYMENT OF THE PREMIUMS DUE BY ALL OR
A SUBSTANTIAL NUMBER OF THE INSUREDS OF THE INSURER; AND

(2)     THE EMERGENCY IS NOT THE FAULT OF THE INSUREDS.

(B)     EMERGENCY SITUATION.

FOR PURPOSES OF THIS SECTION, AN EMERGENCY SITUATION INCLUDES A
FIRE, EARTHQUAKE, FLOOD, POSTAL STRIKE, INSURANCE AGENT STRIKE, OR
OTHER SITUATION THAT IS NOT UNDER THE CONTROL OF INSUREDS...

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 24A.

In subsection (a) of this section, the reference to the grace period "for making
premium payments" is added for clarity.

Defined terms: "Commissioner" § 1-101
"Health insurance" § 1-101
"Insurer" § 1-101
"Life insurance" § 1-101
"Policy" § 1-101
"Premium" § 1-101

SUBTITLE 3. PROPERTY AND MOTOR VEHICLE LIABILITY INSURANCE.
12-301. INSURABLE INTEREST IN PROPERTY REQUIRED.
(A) "INSURABLE INTEREST" DEFINED.

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