§ 23–404
Statutes in effect as of October 1, 2026.
Md. Code Ann., Ins. § 23-404 (2026)
Title 23. Premium Financing
Subtitle 4. Cancellation of Insurance Contract Under Power of Attorney
§ 23–404LinkCopy Citation
(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.