(a) All statutory, regulatory, and contractual restrictions that provide that the insured may not cancel an insurance contract unless notice is given to a governmental agency, mortgagee, or other third party shall apply to a cancellation made under this subtitle.
(b) If an insurer is required under subsection (a) of this section to give notice on behalf of itself or the insured, the insurer shall:
(1) give notice to the governmental agency, mortgagee, or other third party; and
(2) compute the effective date of cancellation from the day the insurer receives the notice of cancellation from the premium finance company.
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