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GOV'T EMPLOYEES INS. v. TAYLOR

[No. 26, September Term, 1973.]

270 Md. 11 (1973)

310 A.2d 49

GOVERNMENT EMPLOYEES INSURANCE COMPANY v. TAYLOR ET AL.

Court of Appeals of Maryland.

Decided October 11, 1973.

Attorney(s) appearing for the Case

Frederick J. Green, Jr., with whom were Lord, Whip, Coughlan & Green on the brief, for Government Employees Insurance Company.

Robert J. Thieblot, with whom were Allen, Thieblot & Alexander on the brief, for Martha and Henry Taylor.

H. Thomas Howell, with whom were David M. Buffington and Semmes, Bowen & Semmes on the brief, for Interstate Credit Development Corporation.

The cause was argued before BARNES, McWILLIAMS, SINGLEY, SMITH, DIGGES and LEVINE, JJ.

DIGGES, J., delivered the opinion of the Court.

For the first time, we are presented with a case requiring a construction of Maryland Code (1957, 1972 Repl. Vol.), Art. 48A, §§ 486A-G, which was designed and enacted by the General Assembly originally in 1964 to regulate insurance premium finance agreements in this State. Very simply stated, a premium finance agreement permits a financial institution (the premium finance company1

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