May 16, 2002
The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
Annapolis MD 21401
Dear Mr. President:
In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed Senate Bill 335 - Premium Finance Agreements - Delinquency and Collection Charge - Cancellation Charge.
This bill increases, from $5 to $8, the allowable late fee that a premium finance company may charge an insured under a premium finance agreement for private passenger automobile or personal fire or liability insurance. The bill also increases the maximum allowable cancellation charge that a premium finance company may charge an insured for private passenger automobile or personal fire or liability insurance to the difference between $15 and the amount of the late fee for the installment in default.
House Bill 229, which was passed by the General Assembly and signed by me, accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate Bill 335.
Parris N. Glendening