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§ 23-403.1. Dishonor of initial down payment

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 23. Premium Financing
Subtitle 4. Cancellation of Insurance Contract Under Power of Attorney (Refs & Annos)
MD Code, Insurance, § 23-403.1
§ 23-403.1. Dishonor of initial down payment
If, within 15 business days after the date of written notice from a financial institution that the initial down payment for the coverage being financed has been dishonored, an insurer receives notice of the dishonor from an insurance producer or premium finance company, there is no valid insurance contract or insurance contracts, and the policy shall be voided.

Credits

Added by Acts 1997, c. 273, § 1, eff. Oct. 1, 1997. Amended by Acts 1998, c. 716, § 1, eff. Oct. 1, 1998; Acts 2001, c. 731, § 1, eff. July 2, 2001; Acts 2006, c. 194, § 1, eff. Oct. 1, 2006.
MD Code, Insurance, § 23-403.1, MD INSURANCE § 23-403.1
Current through all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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