§ 4-117. Notice of settlement payments to third party claimants
West's Annotated Code of MarylandInsuranceEffective: October 1, 2007
Effective: October 1, 2007
MD Code, Insurance, § 4-117
§ 4-117. Notice of settlement payments to third party claimants
(a) At the time of payment, if the payment has been specifically authorized by the claimant's attorney, an insurer shall provide written notice to a third party claimant of payment of $2,000 or more in settlement of a third party liability claim for bodily injury if:
(b) The notice required by subsection (a) of this section shall be sent by regular mail no more than 5 working days after payment is delivered under subsection (a)(2) of this section to the claimant at the last known address of the claimant.
(c) The insurer may provide notice to the claimant by a copy of the letter of transmittal to the claimant's attorney.
(d) This section may not be construed to create:
Credits
Added by Acts 1995, c. 222, § 2, eff. Oct. 1, 1997. Amended by Acts 2007, c. 131, § 1, eff. Oct. 1, 2007.
Formerly Art. 48A, § 61B.
MD Code, Insurance, § 4-117, MD INSURANCE § 4-117
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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