ROBERT L. EHRLICH, JR., Governor                            S.B. 551

(3)     the name and place of business of the premium finance company to
which payments 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 items (i) and (ii) of
this item);

(iv) the amount of the finance charge;

(v) the balance payable by the insured (the sum of items (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

23-303.

4. the premium for the insurance contract or coverage; AND
(VIII) THE ELECTRONIC PAYMENT FEE.

(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, AND ELECTRONIC PAYMENT FEE charges may be
made in accordance with the limitations of [§§ 23-306 and 23-307] §§ 23-306, 23-307,
AND 23-307.1 of this subtitle.

23-307.1.

(A) IN THIS SECTION, "ELECTRONIC PAYMENT" INCLUDES PAYMENT BY
CREDIT CARD OR DEBIT CARD.

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