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Session Laws, 1997
Volume 795, Page 4588   View pdf image
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S.B. 751

VETOES

Parris N. Glendening
Governor

Senate Bill No. 751

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
premium finance companies and premium finance agreements.

BY repealing and reenacting, with amendments,

Article - Insurance

Section 23-101, 23-201 23-202 through 23-205 23-208, 23 207, 23-208, 23-301,
23-302. 23-304 23-306 through 23-308, 23-403, and 23-405 23-402, 23-405,
and 23-501

Annotated Code of Maryland

(1996 Volume)

(As enacted by Chapter 11 of the Acts of the General Assembly of 1996)

BY repealing and reenacting, without amendments,

Article - Insurance

Section 23-102, 23-103, 23-206 23-201, 23-209, 23-210, 23-302, 23-303, 23-304,
23-305, 23-309, 23-401, 23-402, 23-404, 23-406, and 23-501 23-502 through
23-506

Annotated Code of Maryland

(1996 Volume)

(As enacted by Chapter 11 of the Acts of the General Assembly of 1996)

BY adding to

Article - Insurance

- 4588 -

 

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Session Laws, 1997
Volume 795, Page 4588   View pdf image
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