PARRIS N. GLENDENING, Governor

Ch. 36

(E)     SAME — WHEN FILED.

THE TITLE INSURANCE AGENT SHALL FILE THE BOND OR LETTER OF CREDIT
WITH THE COMMISSIONER:

(1)      AFTER THE COMMISSIONER NOTIFIES THE TITLE INSURANCE
AGENT OF THE APPROVAL OF THE APPLICATION FOR A CERTIFICATE OF
QUALIFICATION; AND

(2)      BEFORE THE COMMISSIONER ISSUES THE CERTIFICATE OF
QUALIFICATION.

(F)      SAME — DURATION; CANCELLATION.

(1)      THE BOND OR LETTER OF CREDIT SHALL REMAIN IN FORCE UNTIL:

(I)      THE SURETY INSURER IS RELEASED FROM LIABILITY BY THE
COMMISSIONER; OR

(II)     THE BOND OR LETTER OF CREDIT IS CANCELED BY THE
SURETY INSURER.

(2)      A SURETY INSURER SHALL NOTIFY THE TITLE INSURANCE AGENT
AND COMMISSIONER AT LEAST 30 DAYS BEFORE CANCELING A BOND OR LETTER OF
CREDIT.

(3)      IF A SURETY INSURER FAILS TO NOTIFY THE AGENT AND
COMMISSIONER AS REQUIRED BY PARAGRAPH (2) OF THIS SUBSECTION, THE BOND
OR LETTER OF CREDIT REMAINS IN EFFECT UNTIL THE SURETY INSURER NOTIFIES
THE AGENT AND COMMISSIONER.

(4)      A CANCELLATION UNDER THIS SUBSECTION DOES NOT AFFECT ANY
LIABILITY THAT OCCURRED DURING THE LIFE OF THE BOND OR LETTER OF CREDIT
AND BEFORE THE DATE OF CANCELLATION.

(G)     SAME — PARTNERSHIP OR CORPORATION.

SUBJECT TO THE APPROVAL OF THE COMMISSIONER, A PARTNERSHIP OR
CORPORATION THAT IS AUTHORIZED UNDER A CERTIFICATE OF QUALIFICATION
TO ACT AS A TITLE INSURANCE AGENT MAY MEET THE REQUIREMENTS OF THIS
SECTION BY PROVIDING ONE BOND OR LETTER OF CREDIT FOR ALL OF ITS TITLE
INSURANCE AGENTS.

(H) RENEWAL OF CERTIFICATE OF QUALIFICATION.

BEFORE THE COMMISSIONER RENEWS THE CERTIFICATE OF QUALIFICATION
OF A TITLE INSURANCE AGENT, THE TITLE INSURANCE AGENT SHALL SUBMIT
SATISFACTORY EVIDENCE OF COMPLIANCE WITH THIS SECTION.

(I) RESTRAINING ORDER.

(1) IF A TITLE INSURANCE AGENT HAS BEEN CHARGED WITH A
VIOLATION OF THIS SECTION OR THIS ARTICLE THAT COULD RESULT IN
SUSPENSION OR REVOCATION OF THE CERTIFICATE OF QUALIFICATION OF THE

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