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<section article="gin" article_name="Insurance" number="23-302" title_number="23" title_name="Premium Financing" subtitle_number="3" subtitle_name="Premium Finance Agreements; Charges and Fees">
  <level label="a">
    <text>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.</text>
  </level>
  <level label="b">
    <level label="1">
      <text>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.</text>
    </level>
    <level label="2">
      <text>A premium finance company may require an insurance producer who procures premium financing to:</text>
      <level label="i">
        <text>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</text>
      </level>
      <level label="ii">
        <text>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.</text>
      </level>
    </level>
  </level>
  <level label="c">
    <text>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.</text>
  </level>
</section>
