§ 13–101
Statutes in effect as of October 1, 2026.
Md. Code Ann., Ins. § 13-101 (2026)
Title 13. Credit Life, Health, and Involuntary Unemployment Benefit Insurance
Subtitle 1
§ 13–101LinkCopy Citation
(a)
In this title the following words have the meanings indicated.
(b)
“Credit health insurance” means insurance on a debtor that provides indemnity for payments that are due on a specific loan or other credit transaction while the debtor is disabled as defined by the policy.
(c)
“Credit involuntary unemployment benefit insurance” means insurance on a debtor that provides indemnity for payments that are due on a specific loan or other credit transaction while the debtor is involuntarily unemployed as defined by the policy.
(d)
“Credit life insurance” means insurance on the life of a debtor in connection with a specific loan or other credit transaction.
(e)
“Creditor” means:
(1)
a lender of money or vendor or lessor of goods, services, or property rights or privileges for which payment is arranged through a credit transaction;
(2)
a successor to the right, title, or interest of the lender, vendor, or lessor;
(3)
an affiliate, associate, subsidiary, director, officer, or employee of the lender, vendor, or lessor; or
(4)
any other person in any way associated with the lender, vendor, or lessor.
(f)
(1)
“Debtor” means a borrower of money or purchaser or lessee of goods, services, or property rights or privileges for which payment is arranged through a credit transaction.
(2)
“Debtor” includes the husband or wife or both, as specified in the certificate of insurance, if the husband and wife are jointly liable under a contract of indebtedness.
(g)
“Indebtedness” means the total amount payable by a debtor to a creditor in connection with a loan or other credit transaction.