§ 12-210
107 words·~1 min read·
/md/insurance/12-210A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§12–210.
(a)On advance written notice to an insurer, the Commissioner may extend by a maximum of 60 days the grace period for making premium payments on life insurance, accident, and health insurance policies if:
(1)an emergency situation exists that would delay or prevent the prompt and orderly payment of the premiums due by all or a substantial number of the insureds of the insurer; and
(2)the emergency is not the fault of the insureds.
(b)For purposes of this section, an emergency situation includes a fire, earthquake, flood, postal strike, insurance producer strike, or other situation that is not under the control of insureds.