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§ 12-210. Extension of grace period on life, accident, or health insurance policies

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 12. Policy Forms and Provisions
Subtitle 2. Life and Health Insurance and Annuities (Refs & Annos)
MD Code, Insurance, § 12-210
§ 12-210. Extension of grace period on life, accident, or health insurance policies
Currentness
Grounds for extension of grace period
(a) On advance written notice to an insurer, the Commissioner may extend by a maximum of 60 days the grace period for making premium payments on life insurance, accident, and health insurance policies if:
(1) an emergency situation exists that would delay or prevent the prompt and orderly payment of the premiums due by all or a substantial number of the insureds of the insurer; and
(2) the emergency is not the fault of the insureds.
Emergency situations defined
(b) For purposes of this section, an emergency situation includes a fire, earthquake, flood, postal strike, insurance producer strike, or other situation that is not under the control of insureds.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 2001, c. 731, § 1, eff. July 2, 2001.
Formerly Art. 48A, § 24A.
MD Code, Insurance, § 12-210, MD INSURANCE § 12-210
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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