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S.B. 335
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VETOES
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(II) THE NAME OF THE CERTIFIED INTERIOR DESIGNER WHO
HOLDS THE SEAL.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2002.
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May 16, 2002
The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
State House
Annapolis MD 21401
Dear Mr. President:
In accordance with Article II, Section 17 of the Maryland Constitution, I have today
vetoed Senate Bill 335 - Premium Finance Agreements - Delinquency and Collection
Charge - Cancellation Charge.
This bill increases, from $5 to $8, the allowable late fee that a premium finance
company may charge an insured under a premium finance agreement for private
passenger automobile or personal fire or liability insurance. The bill also increases
the maximum allowable cancellation charge that a premium finance company may
charge an insured for private passenger automobile or personal fire or liability
insurance to the difference between $15 and the amount of the late fee for the
installment in default.
House Bill 229, which was passed by the General Assembly and signed by me,
accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate
Bill 335.
Sincerely,
Parris N. Glendening
Governor
Senate Bill No. 335
AN ACT concerning
Premium Finance Agreements - Delinquency and Collection Charge -
Cancellation Charge
FOR the purpose of altering the maximum amount of a certain delinquency and
collection charge with respect to private passenger automobile or personal fire
or liability insurance that may be imposed under a premium finance agreement;
altering the amount of a certain cancellation charge with respect to private
passenger automobile or personal fire or liability insurance that may be imposed
under a premium finance agreement; and generally relating to charges under
premium finance agreements.
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BY repealing and reenacting, with amendments,
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- 4530 -
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