PARRIS N. GLENDENING, Governor

Ch. 11

"Insurance contract" § 1-101
"Insurer" § 1-101
"Premium" § 1-101

(C) PREMIUM FINANCE COMPANY.

"PREMIUM FINANCE COMPANY" MEANS A PERSON THAT ENGAGES IN THE
BUSINESS OF ENTERING INTO OR ACCEPTING PREMIUM FINANCE AGREEMENTS.

REVISOR'S NOTE: This subsection formerly was Art. 48A, § 486A(b).

Defined terms: "Person" § 1-101

"Premium finance agreement" § 23-101

23-102. SCOPE OF TITLE.

NO BANK, SAVINGS BANK, TRUST COMPANY, SAVINGS AND LOAN ASSOCIATION,
CREDIT UNION, INDUSTRIAL FINANCE COMPANY, SMALL LOAN COMPANY, OR
OTHER SIMILAR ORGANIZATION THAT IS REGULATED UNDER THE LAWS OF THE
STATE OR THE UNITED STATES NOR ANY BANK, SAVINGS BANK, TRUST COMPANY,
SAVINGS AND LOAN ASSOCIATION, OR CREDIT UNION THAT IS ORGANIZED IN
ANOTHER STATE AND HAS A BRANCH IN THIS STATE NOR ANY AUTHORIZED
INSURER THAT DOES NOT ENGAGE IN THE INSURANCE FINANCING BUSINESS IS
SUBJECT TO THIS TITLE.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 486B(c).

The defined term "authorized insurer" is substituted for the former phrase
"insurance company licensed in Maryland" for consistency throughout this
article.

The last clause of former Art. 48A, § 486B, which provided an exemption from
registration and payment of a registration fee for organizations described in
this section, is deleted as surplusage because the organizations are exempt
from all provisions of this title.

Defined terms: "Authorized insurer" § 1-101
"State" § 1-101

23-103. INVESTIGATIONS AND EXAMINATIONS.

(A)     IN GENERAL.

THE COMMISSIONER MAY CONDUCT INVESTIGATIONS AND EXAMINE THE
BOOKS, RECORDS, AND ACCOUNTS OF A PERSON UNDER THIS TITLE TO THE SAME
EXTENT AS IS AUTHORIZED WITH RESPECT TO INSURERS UNDER THIS ARTICLE.

(B)     EXPENSE OF EXAMINATIONS.

THE EXPENSE OF AN EXAMINATION SHALL BE PAID BY THE PERSON
EXAMINED AS PROVIDED IN § 2-208 OF THIS ARTICLE.

(C)     REPORTS OF INVESTIGATIONS AND EXAMINATIONS.

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