{"data":{"id":"us-md/md.-code-insurance-23-501.1","jurisdiction":"us-md","citation":"Md. Code, Insurance § 23–501.1","heading":"","body":"(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.\n(b) A premium finance company may not cancel an insurance contract if any payment under the premium finance agreement:\n(1) is sufficient to pay the installment due under the premium finance agreement that is related to the insurance contract obligation; but\n(2) is not sufficient to cover the amount of the monthly payment for the motor club service contract.","path":["Article - Insurance"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gin\u0026section=23-501.1","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:28Z","sha256":"b6405d7d8cace617e9620bf679e828e22db171358c6a5c59f88e54056d85e3ce","source_id":"us-md","stale":false,"prev":"us-md/md.-code-insurance-23-501","next":"us-md/md.-code-insurance-23-502"},"notice":"GroundRules: Original legal text. Not legal advice."}