There is a newer version of the Maryland Code
Maryland Insurance Section 23-403.1
§ 23-403.1.
  If an insurer receives notice from an insurance producer or premium finance company, within 15 business days after receipt of the initial down payment for the coverage being financed, that the initial down payment has been dishonored by a financial institution, there is no valid insurance contract or insurance contracts, and the policy shall be voided.
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