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§ 27-901. Credit life or disability insurance premiums

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 27. Unfair Trade Practices and Other Prohibited Practices (Refs & Annos)
Subtitle 9. Miscellaneous Provisions (Refs & Annos)
MD Code, Insurance, § 27-901
§ 27-901. Credit life or disability insurance premiums
Definitions
(a)(1) In this section the following words have the meanings indicated.
(2) “Credit life or disability insurance” means a type of insurance that will pay all or part of an individual's debt on the death or disability of the individual.
(3) “Finance charge” has the meaning stated in § 12-501 of the Commercial Law Article.
(4) “Retail credit account” has the meaning stated in § 12-501 of the Commercial Law Article.
Credit life or disability insurance premiums
(b) A person may not make, issue, charge, or cause to be made, issued, or charged to an individual any type of premium for credit life or disability insurance without the express written consent of the individual.
Computation of finance charge
(c) The computation of a finance charge in a retail credit account may not be based in any part on the premiums due under a policy of credit life or disability insurance.

Credits

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997.
Formerly Art. 48A, § 240E.
MD Code, Insurance, § 27-901, MD INSURANCE § 27-901
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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