PARRIS N. GLENDENING, Governor

Ch. 708

(v) the balance payable by the insured (the sum of subitems (iii) and
(iv) of this item);

(vi) the number of installments required, the amount of each
installment expressed in dollars, and the due date or period of each installment; and

(vii) an itemized list for each insurance contract or coverage financed
under the premium finance agreement that includes:

1.       the applicable prefix and number;

2.       the effective date of the insurance contract or coverage;

3.       the name of the company issuing the insurance contract or

coverage; and

4. the premium for the insurance contract or coverage.

(c) (1) The items set out in subsection (b)(5) of this section need not be stated
in the sequence in which they appear.

(2) Additional items may be included to explain the computations made in
determining the amount to be paid by the insured.

(D) A PREMIUM FINANCE AGREEMENT MAY PROVIDE FOR ADDITIONAL OR
RENEWAL INSURANCE PREMIUMS TO BE FINANCED AND ADDED TO THE INITIAL
PREMIUM FINANCE AGREEMENT FROM TIME TO TIME.

23-302.

(a)     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)     When a premium finance agreement is signed, the premium finance company,
or the agent or producer BROKER, 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.

23-303.

(a)     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)     Notwithstanding subsection (a) of this section, delinquency, collection,
cancellation, and reinstatement charges may be made in accordance with the limitations
of §§ 23-306 and 23-307 of this subtitle.

23-304.

(A) The finance charge shall be computed:

(1) on the amount of the entire premium loan advanced, after subtracting
any down payment on the premium loan made by the insured;

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