Ch. 708

1997 LAWS OF MARYLAND

(3)     THE AVAILABILITY OF EXISTING OR POTENTIAL PRIVATE
TRANSPORTATION PROVIDERS CAPABLE OF DELIVERING THE REQUIRED
TRANSPORTATION SERVICES;

(4)     THE IMPACT OF PRIVATIZATION ON PUBLIC SAFETY; AND

(5)     THE ADMINISTRATIVE FEASIBILITY OF OVERSEEING AND
MAINTAINING A PRIVATE TRANSPORTATION SYSTEM.

(C) THE DEPARTMENT SHALL REPORT ITS FINDINGS AND
RECOMMENDATIONS TO THE GENERAL ASSEMBLY IN ACCORDANCE WITH § 2-1312
OF THE STATE GOVERNMENT ARTICLE BY JANUARY 1, 1998.

SECTION 2. AND BE IT FURTHER ENACTED, That it is the intent of the General
Assembly that the Maryland Department of Transportation shall examine and make
recommendations regarding the privatization of public bus transportation services within
existing resources and in coordination with the Council on Management and Productivity
established under § 9-1803 of the State Government Article.

SECTIONS. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 1997. It shall remain effective until January 1, 1998, and, with no further action
required by the General Assembly, this Act shall be abrogated and of no further force
and effect.

Approved May 22, 1997.

CHAPTER 708
(House Bill 1021)

AN ACT concerning

Premium Finance Companies and Agreements

FOR the purpose of making technical changes to certain provisions of law relating to
premium finance companies and premium finance agreements; establishing a
requirement for a minimum net worth or letter of credit for premium finance
companies altering certain registration provisions to require a premium finance company
to elect from among certain alternatives concerning the financial security of the premium
finance company under certain circumstances; specifying certain information
required of certain applicants; altering certain fees; requiring certain hearings for
certain persons under certain circumstances clarifying that the denial of an
applicant's registration is subject to certain hearing requirements; altering certain
provisions relating to record keeping and registration; altering certain requirements
and contents of premium finance agreements, their terms, administration, charges,
interest, assignment, and cancellation; authorizing the financing of certain
additional or renewal premiums; providing for the calculation and disposition of
certain return premiums under certain circumstances; providing for the sufficiency
of certain forms of notice; altering certain time limits for certain notices and
payments; altering and adding certain definitions; and generally relating to

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