reglab/housing_qa huggingface dataset:
MD. Insurance Code Ann. §  23-301.2 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 3 - Premium Finance Agreements; Charges and Fees|Section 23-301.2 - Assignment of Rights; Use as Collateral

    (a)    (1)    With respect to private passenger motor vehicle insurance and personal insurance, a premium finance company may:            (i)    assign all rights and obligations under a premium finance agreement to another premium finance company that is registered in the State under this title; or            (ii)    pledge a premium finance agreement as collateral for a loan.        (2)    If a premium finance company assigns the obligation to service a premium finance agreement to another premium finance company under paragraph (1)(i) of this subsection, the assigning premium finance company shall notify the insured in accordance with subsection (c) of this section:            (i)    that the obligation to service the premium finance agreement has been assigned to another premium finance company that is registered in the State under this title; and            (ii)    of the name, address, and telephone number of the premium finance company to which the obligation has been assigned.    (b)    (1)    With respect to commercial automobile, fire, or liability insurance, a premium finance company:            (i)    except as provided in paragraph (2) of this subsection, may assign all rights and obligations under a premium finance agreement to another person if the premium finance agreement expressly confers the right to assign all rights and obligations under the premium finance agreement; or            (ii)    may pledge a premium finance agreement as collateral for a loan.        (2)    A premium finance company that assigns rights and obligations under paragraph (1)(i) of this subsection shall:            (i)    retain the obligation to service the premium finance agreement; or            (ii)    assign the obligation to service the premium finance agreement to another premium finance company that is registered in the State under this title.        (3)    If a premium finance company assigns the obligation to service a premium finance agreement to another premium finance company under paragraph (2)(ii) of this subsection, the assigning premium finance company shall notify the insured in accordance with subsection (c) of this section:            (i)    that the obligation to service the premium finance agreement has been assigned to another premium finance company that is registered in the State under this title; and            (ii)    of the name, address, and telephone number of the premium finance company to which the obligation has been assigned.    (c)    A notice required under subsection (a)(2) or (b)(3) of this section shall be by:        (1)    first–class mail; or        (2)    if the premium finance company meets the requirements for delivering a notice under § 27–601.2 of this article, electronic means.
MD. Insurance Code Ann. §  23-302 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 3 - Premium Finance Agreements; Charges and Fees|Section 23-302 - Copies of Premium Finance Agreements

    (a)    A copy of each premium finance agreement or other notice of a premium finance agreement that describes the policy or policies involved shall be given to the agency issuing the policy or policies or to the insurers involved.    (b)    (1)    If a policy is procured through a surplus lines broker licensed in the State, and payment is not made directly to the surplus lines broker or the insurer, a copy of the premium finance agreement or other notice of the premium finance agreement shall be sent to the surplus lines broker by the insurance producer or premium finance company.        (2)    A premium finance company may require an insurance producer who procures premium financing to:            (i)    send to the surplus lines broker the notice required under paragraph (1) of this subsection within 10 business days of the execution of a premium finance agreement; and            (ii)    provide to the premium finance company, within 10 business days of receipt of a policy, the insurer’s name, policy number, and any other information necessary to complete a premium finance agreement.    (c)    When a premium finance agreement is signed, the premium finance company, or the insurance producer, if applicable, shall provide the insured with, or cause the insured to be provided with, a legible copy of the fully completed and executed premium finance agreement.
MD. Insurance Code Ann. §  23-302.1 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 3 - Premium Finance Agreements; Charges and Fees|Section 23-302.1 - Financing Additional Premium

    (a)    An insured may finance an additional premium if:        (1)    the insured has paid the down payment, if any, required by the premium finance company on the additional premium; and        (2)    the premium finance company delivers or mails a written notice to the insured at the last known address of the insured indicating that:            (i)    there is a revised premium finance agreement; and            (ii)    in the event of default in payment of the revised premium finance agreement, the policy may be canceled.    (b)    An insurer may not delay cancellation for the sole purpose of applying premiums on deposit to any additional premium.
MD. Insurance Code Ann. §  23-302.2 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 3 - Premium Finance Agreements; Charges and Fees|Section 23-302.2 - Notice of Additional Premium

    If an insurer receives notice of a financed insurance premium, the insurer shall, within 10 business days after its calculation, notify the insured, the insurer’s insurance producer, and premium finance company of any additional premium arising under the financed policy.
MD. Insurance Code Ann. §  23-303 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 3 - Premium Finance Agreements; Charges and Fees|Section 23-303 - Maximum Charges

    (a)    The maximum charges stated in §§ 23-304 and 23-305 of this subtitle shall include all interest, fees, and charges incident to the premium finance agreement and the resulting extension of credit.    (b)    Notwithstanding subsection (a) of this section, delinquency, collection, cancellation, reinstatement, and electronic payment fee charges may be made in accordance with the limitations of §§ 23-306, 23-307, and 23-307.1 of this subtitle.
MD. Insurance Code Ann. §  23-304 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 3 - Premium Finance Agreements; Charges and Fees|Section 23-304 - Finance Charge

    (a)    The finance charge shall be computed:        (1)    on the amount of the entire premium loan advanced, including any taxes or fees that are financed under § 23–301.1 of this subtitle, after subtracting any down payment on the premium loan made by the insured;        (2)    from the inception date of the insurance contract or from the due date of the premium, disregarding any grace period or credit allowed for payment of the premium, through the date when the final installment under the premium finance agreement is payable; and        (3)    in an amount not exceeding the sum of 1.15% for each 30 days of the loan, computed in advance.    (b)    (1)    An insured shall receive a refund of a finance charge that exceeds any amount due under the premium finance agreement if:            (i)    the insurance contract is canceled; or            (ii)    the insured prepays the loan in full at any time.        (2)    The amount of the refund under paragraph (1) of this subsection may be calculated by the actuarial method.        (3)    (i)    A finance charge:                1.    is earned in 30–day increments; and                2.    in accordance with subparagraph (ii) of this paragraph, may be earned on the first day of each 30–day period.            (ii)    If a finance charge is earned on the first day of each 30–day period, the premium finance agreement shall contain a notification that the finance charge is earned on the first day of each 30–day period.        (4)    A premium finance company may not retain more of the finance charge than is earned under this section.    (c)    With respect to commercial automobile, fire, or liability insurance only, a finance charge may be imposed on any unpaid principal balance of the loan remaining after all unearned premiums have been returned if the unearned premiums are less than the unpaid principal balance due to:        (1)    an audit by the insurer resulting in additional premium;        (2)    the application of a minimum premium on a policy;        (3)    an endorsement that is made after a policy is issued and results in additional premium; or        (4)    a lawful delay in canceling an insurance policy that is beyond the control of the premium finance company.    (d)    Notwithstanding any other provision of law, a premium finance company may not use the Rule of 78s in computing a finance charge under this section.
MD. Insurance Code Ann. §  23-305 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 3 - Premium Finance Agreements; Charges and Fees|Section 23-305 - Initial Service Fee

    (a)    A premium finance company may charge an initial service fee, which may not exceed $20, for actual expenses.    (b)    The initial service fee may not be refunded on cancellation or repayment.
MD. Insurance Code Ann. §  23-306 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 3 - Premium Finance Agreements; Charges and Fees|Section 23-306 - Delinquency and Collection Charge

    (a)    A premium finance agreement may require the insured to pay a delinquency and collection charge on each installment that is in default for a period of not less than 5 days.    (b)    A delinquency and collection charge shall be at least $1, up to a maximum of 5% of the installment in default, but may not exceed:        (1)    $8, with respect to private passenger automobile or personal fire or liability insurance; and        (2)    $100, with respect to commercial automobile, fire, or liability insurance.    (c)    Only one delinquency and collection charge may be collected on an installment, regardless of the period during which the installment remains in default.
MD. Insurance Code Ann. §  23-307 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 3 - Premium Finance Agreements; Charges and Fees|Section 23-307 - Cancellation Charge; Reinstatement Charge

    (a)    Except as provided in subsection (d) of this section, a premium finance agreement may require the insured to pay a cancellation charge if a default in paying an installment results in the cancellation of an insurance contract listed in the premium finance agreement.    (b)    A cancellation charge shall be:        (1)    with respect to private passenger automobile or personal fire or liability insurance, equal to the difference between a delinquency and collection charge imposed under § 23–306 of this subtitle with respect to the installment in default and:            (i)    $15 for a default before or during calendar year 2014;            (ii)    $16 for a default during calendar year 2015;            (iii)    $17 for a default during calendar year 2016;            (iv)    $18 for a default during calendar year 2017;            (v)    $19 for a default during calendar year 2018; and            (vi)    $20 for a default during or after calendar year 2019; and        (2)    with respect to commercial automobile, fire, or liability insurance, 5% of the installment, not to exceed an amount equal to the difference between a delinquency and collection charge imposed under § 23–306 of this subtitle with respect to the installment in default and $100.    (c)    A premium finance company may require the payment of a reinstatement charge that is in place of and in the same amount as the cancellation charge if, after a cancellation charge is imposed in accordance with the requirements of subsection (d) of this section, the insured pays the defaulted installment.    (d)    A premium finance agreement may impose a cancellation charge:        (1)    on or after the effective date stated in the notice of cancellation issued to the insurer under § 23–403 of this title; or        (2)    on or after the cancellation effective date stated in the notice of intent to cancel delivered or mailed to the insured under § 23–402 of this title, if:            (i)    the premium finance company has notified the insured in the notice of intent to cancel that a cancellation fee will be imposed on the cancellation effective date stated in the notice of intent to cancel; and            (ii)    the notice of intent to cancel includes the following statement in 12–point or larger type: “If you do not pay the delinquent amount before the cancellation effective date stated in this notice, at any time within 30 days of the cancellation effective date, your insurance policy is subject to cancellation on the cancellation effective date. This means that if you have a loss on or after the cancellation effective date stated in this notice, you may not have coverage for the loss.”.
MD. Insurance Code Ann. §  23-307.1 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 3 - Premium Finance Agreements; Charges and Fees|Section 23-307.1 - Electronic Payment Fee

    (a)    (1)    In this section the following words have the meanings indicated.        (2)    (i)    “Electronic check” means a form of payment in which a fund transfer is made electronically from a payer’s bank account to a premium finance company’s bank account.            (ii)    “Electronic check” does not include a written check that is delivered to a premium finance company or an agent by hand delivery, regular mail, or other form of personal delivery.        (3)    “Electronic payment” includes payment by credit card, debit card, or electronic check.    (b)    A premium finance agreement may require the insured to pay an electronic payment fee if the insured elects to pay a premium finance company by means of an electronic payment.    (c)    A premium finance company may charge an electronic payment fee, which may not exceed $8, for actual expenses incurred by the premium finance company for the electronic payment.
MD. Insurance Code Ann. §  23-308 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 3 - Premium Finance Agreements; Charges and Fees|Section 23-308 - Dishonored Check Fee

    A premium finance company may charge a dishonored check fee, which may not exceed $25, for actual expenses incurred in the processing of a dishonored check.
MD. Insurance Code Ann. §  23-309 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 3 - Premium Finance Agreements; Charges and Fees|Section 23-309 - Fee for Obtaining Clue Report

    A premium finance company may not charge an insured or a prospective insured any fee for the expense that the premium finance company incurs in obtaining a comprehensive loss underwriting exchange automobile report (CLUE report) regarding the insured or prospective insured if a producer already has charged the insured or prospective insured for obtaining the report.
MD. Insurance Code Ann. §  23-310 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 3 - Premium Finance Agreements; Charges and Fees|Section 23-310 - Perfection of Premium Finance Agreement as Secured Transaction

    Filing of a premium finance agreement is not needed to perfect the validity of the premium finance agreement as a secured transaction as against creditors, subsequent purchasers, pledgees, encumbrancers, trustees in bankruptcy or any other insolvency proceeding under any law, or anyone having the status or power of any of those persons, their successors, or assigns.
MD. Insurance Code Ann. §  23-311 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 3 - Premium Finance Agreements; Charges and Fees|Section 23-311 - Reinstatement of Policy -- Payment of Fee

    A premium finance company is not required to reinstate a policy if:        (1)    the insurer requires a reinstatement fee, as authorized under § 27–216(b)(5) of this article, to be paid by the insured; and        (2)    the insured does not timely pay the reinstatement fee.
MD. Insurance Code Ann. §  23-401 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 4 - Cancellation of Insurance Contract Under Power of Attorney|Section 23-401 - Compliance With Subtitle Required

    When in connection with a premium finance agreement a power of attorney or other authority to cancel an insurance contract on behalf of an insured is given to a premium finance company, the premium finance company may not cancel the insurance contract except in accordance with this subtitle.
MD. Insurance Code Ann. §  23-401.1 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 4 - Cancellation of Insurance Contract Under Power of Attorney|Section 23-401.1 - Notice to Insured

    (a)    Subject to subsection (b) of this section, at the option of the insured a premium finance company may send any notice required under this subtitle by personal delivery, first–class mail, commercial delivery service, electronic mail, or facsimile transmission.    (b)    A premium finance company may send any notice required under this subtitle by electronic means only if the premium finance company meets the requirements for delivering a notice under § 27–601.2 of this article.
MD. Insurance Code Ann. §  23-402 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 4 - Cancellation of Insurance Contract Under Power of Attorney|Section 23-402 - Notice of Intent to Cancel

    (a)    At least 10 days before canceling an insurance contract, a premium finance company shall deliver or mail to the insured written notice of intent to cancel the insurance contract unless the defaulted installment payment is received within the 10–day notice period.    (b)    For an automobile liability insurance contract, the notice of intent to cancel shall include a statement in clear and specific terms that if the insured fails to replace the automobile liability insurance within the 10–day notice period, § 17–106 of the Transportation Article provides that uninsured motorist penalties be assessed and that all evidences of registration be surrendered to the Motor Vehicle Administration and that failure to surrender the evidences of registration may result in suspension of current and future registration privileges.    (c)    The cancellation of an insurance contract on the date stated in a notice of intent to cancel or a notice of cancellation is not superseded by a premium finance company’s issuance of a subsequent notice of intent to cancel sent under this section or a notice of cancellation sent under § 23–403 of this subtitle.
MD. Insurance Code Ann. §  23-403 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 4 - Cancellation of Insurance Contract Under Power of Attorney|Section 23-403 - Cancellation of Insurance Contract

    (a)    (1)    After the end of the notice period under § 23–402(a) of this subtitle, the premium finance company may cancel the insurance contract by submitting to the insurer a notice of cancellation that specifies the effective date of the cancellation.        (2)    (i)    The premium finance company shall deliver or mail a copy of the notice of cancellation to the insured at the last known address of the insured.            (ii)    With respect to commercial automobile, fire, or liability insurance, the premium finance company shall deliver the notice in accordance with the insured’s request under § 23–401.1 of this subtitle.    (b)    (1)    If the insurer receives a notice of cancellation issued under subsection (a) of this section within 30 days after the effective date of cancellation specified in the notice, the insurer shall cancel the insurance contract effective on the date specified in the notice.        (2)    Subject to paragraph (3) of this subsection, if the insurer receives a notice of cancellation issued under subsection (a) of this section more than 30 days after the effective date of cancellation specified in the notice, the insurance contract shall be canceled effective on the date the insurer receives the notice.        (3)    If a premium finance company fails to meet the 30–day notice requirement under paragraph (1) of this subsection because the installment payment of the insured is dishonored after the effective date specified in the notice of cancellation, the dishonored payment is ineffective and the insurer may waive the 30–day notice requirement.    (c)    A cancellation under this section shall be made as if the notice of cancellation had been submitted by the insured, but without requiring the return of the policy.
MD. Insurance Code Ann. §  23-403.1 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 4 - Cancellation of Insurance Contract Under Power of Attorney|Section 23-403.1 - Effect of Dishonored 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.
MD. Insurance Code Ann. §  23-404 (2021)
2021 Maryland Statutes|Insurance|Title 23 - Premium Financing|Subtitle 4 - Cancellation of Insurance Contract Under Power of Attorney|Section 23-404 - Notice to Third Parties of Cancellation

    (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.    (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.