Maryland Code, INSURANCE 23-203
Terms Used In Maryland Code, INSURANCE 23-203
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(1) file with the Commissioner:
(i) an application on the form that the Commissioner requires;
(ii) in the case of a corporation or limited liability company, a certificate of good standing issued by the State Department of Assessments and Taxation;
(iii) evidence of compliance with § 23-202 of this subtitle;
(iv) the form of the premium finance agreement to be used; and
(v) the finance charge, initial service fee, and all other fees and charges to be applied; and
(2) pay to the Commissioner an application fee of $250.
(b) The registration application shall include the following information:
(1) the name, business address, and telephone number of the premium finance company; and
(2) the name and business address of each officer, director, principal, and partner of the premium finance company.
(c) A registration application may require the applicant to disclose the identity, trade names, and names of managers and owners of the applicant.