A premium finance company is not required to reinstate a policy if:
(1) the insurer requires a reinstatement fee, as authorized under § 27–216(b)(5) of this article, to be paid by the insured; and
(2) the insured does not timely pay the reinstatement fee.
Structure Maryland Statutes
Subtitle 3 - Premium Finance Agreements; Charges and Fees
Section 23-301 - Requirements for Premium Finance Agreements
Section 23-301.1 - Additional Inclusions
Section 23-301.2 - Assignment of Rights; Use as Collateral
Section 23-302 - Copies of Premium Finance Agreements
Section 23-302.1 - Financing Additional Premium
Section 23-302.2 - Notice of Additional Premium
Section 23-303 - Maximum Charges
Section 23-304 - Finance Charge
Section 23-305 - Initial Service Fee
Section 23-306 - Delinquency and Collection Charge
Section 23-307 - Cancellation Charge; Reinstatement Charge
Section 23-307.1 - Electronic Payment Fee
Section 23-308 - Dishonored Check Fee
Section 23-309 - Fee for Obtaining Clue Report
Section 23-310 - Perfection of Premium Finance Agreement as Secured Transaction