# Insurance (GIN)

## Title 23. Premium Financing

### Subtitle 5. Prohibited Acts; Penalties

#### Section 23-501.1

(a) A premium finance company may not impose any finance charge or other charge on any payment for the purchase price of a motor club service contract.

(b) A premium finance company may not cancel an insurance contract if any payment under the premium finance agreement:

  (1) is sufficient to pay the installment due under the premium finance agreement that is related to the insurance contract obligation; but

  (2) is not sufficient to cover the amount of the monthly payment for the motor club service contract.

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Md. Code Ann., Ins. (as displayed at mgaleg.maryland.gov, October 16, 2026)