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§ 23-206. Change of information requiring report

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 23. Premium Financing
Subtitle 2. Registration (Refs & Annos)
MD Code, Insurance, § 23-206
§ 23-206. Change of information requiring report
Currentness
In general
(a) The Commissioner shall require a premium finance company to report, on forms provided by the Commissioner, changes in officers, directors, owners, trade names, principals, partners, business addresses, and telephone numbers within 30 days after a change occurs.
Changes filed by premium finance company
(b)(1) A premium finance company shall file all changes to:
(i) the form of the premium finance agreement used by the premium finance company; and
(ii) the finance charge, initial service fee, and any other fees and charges applied by the premium finance company.
(2) A premium finance company may not use a premium finance agreement form or apply a fee or charge unless the filing required under paragraph (1) of this subsection is approved by the Commissioner.
(3) A premium finance company shall disclose to the Commissioner, on written request, the method or formula used to calculate the finance charges and amount of refund on cancellation of the insurance contract.

Credits

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997. Amended by Acts 1997, c. 708, § 1, eff. Oct. 1, 1997; Acts 2006, c. 194, § 1, eff. Oct. 1, 2006.
Formerly Art. 48A, § 486B.
MD Code, Insurance, § 23-206, MD INSURANCE § 23-206
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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