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§ 23-404. Notice of cancellation to third parties

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, § 23-404
§ 23-404. Notice of cancellation to third parties
In general
(a) All statutory, regulatory, and contractual restrictions that provide that the insured may not cancel an insurance contract unless notice is given to a governmental agency, mortgagee, or other third party shall apply to a cancellation made under this subtitle.
Effective date of cancellation
(b) If an insurer is required under subsection (a) of this section to give notice on behalf of itself or the insured, the insurer shall:
(1) give notice to the governmental agency, mortgagee, or other third party; and
(2) compute the effective date of cancellation from the day the insurer receives the notice of cancellation from the premium finance company.

Credits

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997. Amended by Acts 1997, c. 708, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 486G.
MD Code, Insurance, § 23-404, MD INSURANCE § 23-404
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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