Section 12-304 - Certificate on property of borrower. - Maryland Statutes

§ 12-304. Certificate on property of borrower.
 

(a)  Required.- 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)  Contents.- 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. 
 

[An. Code 1957, art. 48A, § 380; 1995, ch. 36.]