§ 17-102. Interest on benefits payable
West's Annotated Code of MarylandInsurance
MD Code, Insurance, § 17-102
§ 17-102. Interest on benefits payable
(a) Subject to subsection (b) of this section, interest on benefits payable under a policy of group life insurance issued in the State shall accrue and be payable from the date of death of the insured until the date on which the proceeds of the policy are paid.
(b)(1) An insurer is not required to pay interest on benefits if the proceeds of the policy are paid within 30 days after the date of death of the insured.
Credits
Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 418A.
MD Code, Insurance, § 17-102, MD INSURANCE § 17-102
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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