Md. Code, Insurance § 17-103
This is the official text of Md. Code, Insurance § 17-103, part of Maryland’s Code, Insurance — regulates insurance companies and the policies they sell.
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§17–103.
Official statutory text
An insurer that issues a policy to a creditor to insure debtors of the creditor shall provide to the creditor for delivery to each debtor insured under the policy a form that states that:
(1) the life of the debtor is insured under the policy; and
(2) a death benefit paid under the policy because of the debtor’s death shall be applied to reduce or extinguish the indebtedness.
(1) the life of the debtor is insured under the policy; and
(2) a death benefit paid under the policy because of the debtor’s death shall be applied to reduce or extinguish the indebtedness.
Status: in_force · Read it on the official government site
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