§ 12-304. Certificate on property of borrower

Latest version.

   (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.

HISTORY: An. Code 1957, art. 48A, § 380; 1995, ch. 36.

                    
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