PARRIS N. GLENDENING, Governor

Ch. 635

CHAPTER 635
(House Bill 1243)

AN ACT concerning

Insurance Agents and Brokers - Title Insurance Agents and Brokers

FOR the purpose of repealing a certain exemption for certain title insurance insurers and
part of a certain exemption for certain attorneys and professional corporations
associations of attorneys from certain requirements applicable to title insurance
agents and brokers; altering the requirements for application for a certification of
qualification as an agent or broker; altering the definition of "title insurance agent"
and adding a definition of "title insurance broker"; altering the requirements for
application for a certificate of qualification as a title insurance agent or broker;
altering the requirements for certain fidelity or surety bonds or letters of credit that
must be filed with the Commissioner; requiring certain statements of financial
condition for title insurance agents and agencies that have appointments with title
insurers; requiring certain review of the underwriting, claims, and escrow practices
of title insurance agents and agencies; authorizing the Commissioner to issue
certain restricted certificates of qualification for certain attorneys and associations
of attorneys to act as title insurance agents or brokers; altering the grounds for
disciplinary action against an agent or broker; defining certain terms; making
stylistic changes; providing for the effective date of this Act; delaying the
enforcement of certain provisions of this Act; providing for the future codification
of certain provisions of this Act; and generally relating to title insurance agents and
brokers and insurance agents and brokers.

BY repealing and reenacting, without amendments,
Article 48A - Insurance Code
Section 55, 55A, 175A, 486, and 486-3
Annotated Code of Maryland
(1994 Replacement Volume and 1994 Supplement)

BY repealing and reenacting, with amendments,
Article 48A - Insurance Code

Section 167(f), 168, 168A, 169, 175, 486-1, and 486-2
Annotated Code of Maryland
(1994 Replacement Volume and 1994 Supplement)

BY adding to

Article 48A - Insurance Code

Section 173(e) and 173A

Annotated Code of Maryland

(1994 Replacement Volume and 1994 Supplement)

BY repealing and reenacting, with amendments,

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