§ 12-304
94 words·~1 min read·
/md/insurance/12-304A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§12–304.
(a)If an insurer issues and delivers a policy to a lender on property of a borrower that has been pledged, mortgaged, or is subject to a conditional contract of sale, the insurer must issue a certificate to the borrower or owner of the property in accordance with subsection
(b)of this section.
(b)The certificate issued under this section shall set forth:
(1)the coverages provided in the policy;
(2)the amount of premium charged for the policy;
(3)the date the policy takes effect; and
(4)the date the policy expires.