Ch. 708

1997 LAWS OF MARYLAND

(C) BEFORE THE COMMISSIONER MAY REVOKE, SUSPEND, OR REFUSE TO
RENEW THE REGISTRATION OF A PREMIUM FINANCE COMPANY UNDER THIS
SECTION, THE COMMISSIONER SHALL PROVIDE TO THE PREMIUM FINANCE
COMPANY, WITHIN 15 BUSINESS DAYS AFTER ITS REQUEST, A CONTESTED CASE
HEARING UNDER TITLE 10, SUBTITLE 2 OF THE STATE GOVERNMENT ARTICLE.

23-209.

(a)     A registrant may surrender a registration by delivering to the Commissioner
written notice of the surrender.

(b)     Surrender of a registration does not affect the registrant's civil or criminal
liability for acts committed before the surrender.

23-210.

Suspension, revocation, or surrender of a registration does not affect the obligation
of an insured under a lawful premium finance agreement previously acquired or held by
the registrant.

23-301.

(a)     (1) A premium finance agreement shall be dated and signed by or on behalf
of the insured.

(2) The printed part of the premium finance agreement shall be in [at least
APPROXIMATELY 8-point] type AND BE EASILY READABLE BY AN AVERAGE
INDIVIDUAL.

(b)     A premium finance agreement shall contain:

(1)     the name and place of business of the agent, OR BROKER, OR
PRODUCER negotiating the related insurance contract;

(2)     the name and residence or place of business of the insured as specified
by the insured;

(3)     the name and place of business of the premium finance company [to
which payments are to MAY be made];

(4)     a brief description of the insurance contracts involved and the amount of
the premium; and

(5)     if applicable, the following items:

(i) the total amount of the premiums;

(ii) the amount of the down payment;

(iii) the principal balance (the difference between subitems (i) and (ii)
of this item);

(iv) the amount of the finance charge;

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