§ 17–103
Statutes in effect as of October 1, 2026.
Md. Code Ann., Ins. § 17-103 (2026)
Title 17. Group Life Insurance
Subtitle 1. General Provisions
§ 17–103LinkCopy Citation
An insurer that issues a policy to a creditor to insure debtors of the creditor shall provide to the creditor for delivery to each debtor insured under the policy a form that states that:
(1)
the life of the debtor is insured under the policy; and
(2)
a death benefit paid under the policy because of the debtor’s death shall be applied to reduce or extinguish the indebtedness.