PARRIS N. GLENDENING, Governor

Ch. 11

(4)      "CLASS OF BUSINESS" MEANS:

(I)       CASH LOANS MADE BY BANKS AND NOT SECURED BY REAL
ESTATE;

(II)     CASH LOANS MADE BY BANKS AND SECURED BY REAL ESTATE;

(III)    CASH LOANS MADE BY CREDIT UNIONS;

(IV)    CASH LOANS MADE BY CREDITORS OTHER THAN BANKS AND
CREDIT UNIONS AND NOT SECURED BY REAL ESTATE;

(V)     CASH LOANS MADE BY CREDITORS OTHER THAN BANKS AND
SECURED BY REAL ESTATE;

(VI)    PRODUCTION CREDIT ASSOCIATION AND OTHER
AGRICULTURAL LOANS;

(VII)  INSTALLMENT SALES FINANCE CONTRACTS; OR

(VIII)    OPEN END CREDIT, INCLUDING REVOLVING CHARGE
AGREEMENTS AND CREDIT CARD ACCOUNTS.

(5)      "EXPERIENCE PERIOD" MEANS 2 CALENDAR YEARS OR, AT THE
OPTION OF THE INSURER, 2 POLICY YEARS UNDER A GROUP POLICY ISSUED TO ONE
CREDITOR.

(6)      "LOSS RATIO" MEANS THE RATIO OF INCURRED CLAIMS TO
PREMIUMS EARNED.

(B)     IN GENERAL.

(1)      AN INSURER MAY REVISE ITS SCHEDULES OF PREMIUM RATES
FROM TIME TO TIME.

(2)      THE INSURER SHALL FILE ANY REVISED SCHEDULES WITH THE
COMMISSIONER FOR APPROVAL.

(3)      AN INSURER MAY NOT ISSUE A POLICY OF CREDIT LIFE INSURANCE,
CREDIT HEALTH INSURANCE, OR CREDIT INVOLUNTARY UNEMPLOYMENT BENEFIT
INSURANCE IF THE PREMIUM RATE EXCEEDS THE PREMIUM RATE CONTAINED IN
THE SCHEDULES OF THE INSURER ON FILE WITH THE COMMISSIONER.

(4)      IF THE COMMISSIONER APPROVES THE PREMIUM RATE FOR A
POLICY OF CREDIT LIFE INSURANCE, CREDIT HEALTH INSURANCE, OR CREDIT
INVOLUNTARY UNEMPLOYMENT BENEFIT INSURANCE UNDER § 13-110 OF THIS
TITLE, THE PREMIUM RATE IS PRESUMED TO BE REASONABLE IN RELATION TO
BENEFITS.

(C)     MAXIMUM PREMIUM.

THE AMOUNT CHARGED TO A DEBTOR FOR CREDIT LIFE INSURANCE, CREDIT
HEALTH INSURANCE, OR CREDIT INVOLUNTARY UNEMPLOYMENT BENEFIT

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