May 22, 2003
The Honorable Michael E. Busch
Speaker of the House
Annapolis MD 21401
Dear Mr. Speaker:
In accordance with Article II, Section 17 of the Maryland Constitution, today I have vetoed House Bill 717 - Insurance - Premium Finance Agreements.
This bill provides that a premium finance agreement, in addition to financing the premium of a surplus lines insurance contract, may include specified premium receipts taxes and fees charged by a surplus lines broker; and alters the manner in which a finance charge is computed.
Senate Bill 167, which was passed by the General Assembly and signed by me, accomplishes the same purpose. Therefore, it is not necessary for me to sign House Bill 717.
Robert L. Ehrlich, Jr.