Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 09 - LIFE INSURANCE AND ANNUITIES
Chapter 31.09.06 - Notice of Nonforfeiture Provisions in Lapsed Life Policies
Section 31.09.06.01 - Notice Requirement

For any industrial or ordinary policy of insurance on the life of a resident of this State issued by any life insurance company or fraternal benefit society operating in Maryland, when the policy has a cash, paid-up, or extended insurance or other equity at the time of lapse and when none of these equities is automatically granted by the policy without application by the insured, upon lapse of the policy, written notice shall be mailed to the last known address of the insured within not less than 30 days before the expiry of the period within which the insured may apply for the equity value. This notice shall state the nature of the equity to which the insured is entitled and the date before which application for the equity is required to be made.