PARRIS N. GLENDENING, Governor

Ch. 11

(2) ADDITIONAL ITEMS MAY BE INCLUDED TO EXPLAIN THE
COMPUTATIONS MADE IN DETERMINING THE AMOUNT TO BE PAID BY THE
INSURED.

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

Throughout subsection (b)(5)(vii) of this section, the references to an
"insurance contract" are substituted for the former references to a "policy" for
consistency with subsection (b)(1) and (4) of this section.

Defined terms: "Agent" § 1-101
"Insurance contract" § 1-101
"Premium" § 1-101

"Premium finance agreement" § 23-101
"Premium finance company" § 23-101

23-302. COPIES OF PREMIUM FINANCE AGREEMENTS.

(A)     TO ISSUING AGENCY OR INSURER.

A COPY OF EACH PREMIUM FINANCE AGREEMENT OR OTHER NOTICE OF A
PREMIUM FINANCE AGREEMENT THAT DESCRIBES THE POLICY OR POLICIES
INVOLVED SHALL BE GIVEN TO THE AGENCY ISSUING THE POLICY OR POLICIES OR
TO THE INSURERS INVOLVED.

(B)     TO INSURED.

WHEN A PREMIUM FINANCE AGREEMENT IS SIGNED, THE PREMIUM FINANCE
COMPANY, OR THE AGENT OR PRODUCER, IF APPLICABLE, SHALL PROVIDE THE
INSURED WITH, OR CAUSE THE INSURED TO BE PROVIDED WITH, A LEGIBLE COPY
OF THE FULLY COMPLETED AND EXECUTED PREMIUM FINANCE AGREEMENT.

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

Defined terms: "Agent" § 1-101
"Insurer" § 1-101
"Policy" § 1-101

"Premium finance agreement" § 23-101
"Premium finance company" § 23-101

23-303. MAXIMUM CHARGES.

(A)     IN GENERAL.

THE MAXIMUM CHARGES STATED IN §§ 23-304 AND 23-305 OF THIS SUBTITLE
SHALL INCLUDE ALL INTEREST, FEES, AND CHARGES INCIDENT TO THE PREMIUM
FINANCE AGREEMENT AND THE RESULTING EXTENSION OF CREDIT.

(B)     OTHER ALLOWED CHARGES.

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