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§ 17-103. Statement to insured debtors

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 17. Group Life Insurance
Subtitle 1. General Provisions (Refs & Annos)
MD Code, Insurance, § 17-103
§ 17-103. Statement to insured debtors
Currentness
An insurer that issues a policy to a creditor to insure debtors of the creditor shall provide to the creditor for delivery to each debtor insured under the policy a form that states that:
(1) the life of the debtor is insured under the policy; and
(2) a death benefit paid under the policy because of the debtor's death shall be applied to reduce or extinguish the indebtedness.

Credits

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 436A.
MD Code, Insurance, § 17-103, MD INSURANCE § 17-103
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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