PARRIS N. GLENDENING, Governor

Ch. 635

(II) IF THE TITLE INSURANCE AGENT OR AGENCY DOES NOT
MAINTAIN SEPARATE BANK OR TRUST ACCOUNTS FOR EACH TITLE INSURER IT
REPRESENTS, THE TITLE INSURER SHALL VERIFY THAT THE FUNDS HELD ON ITS
BEHALF ARE REASONABLY ASCERTAINABLE FROM THE BOOKS OF ACCOUNT AND
RECORDS OF THE TITLE INSURANCE AGENT OR AGENCY.

(3) A WRITTEN REPORT SETTING FORTH THE RESULTS OF THE ON-SITE
REVIEW SHALL BE PREPARED BY THE TITLE INSURER AND IS SUBJECT TO
FINANCIAL EXAMINATION UNDER § 2-205 OF THIS ARTICLE.

(4) IF, AS A RESULT OF THE EXAMINATION, A TITLE INSURER HAS
REASONABLE CAUSE TO BELIEVE THAT A TITLE INSURANCE AGENT OR AGENCY
HAS FAILED TO REMIT PREMIUMS OR FUNDS OWED OR THAT ANY OTHER
VIOLATION OF THIS ARTICLE HAS BEEN COMMITTED, THE TITLE INSURER SHALL
REPORT IN WRITING THE SUSPECTED VIOLATION TO THE COMMISSIONER AND
SUBMIT A COPY OF THE EXAMINATION.

(5) THE EXAMINATION REQUIRED UNDER THIS SECTION IS IN
ADDITION TO ANY EXAMINATION CONDUCTED BY THE COMMISSIONER TO
DETERMINE COMPLIANCE WITH THE ACCOUNTS MAINTAINED FOR THE BENEFIT OF
THE MARYLAND AFFORDABLE HOUSING TRUST UNDER § XX-XXX [48A § 486-2] OF
THIS ARTICLE.

(L) (1) A TITLE INSURANCE AGENT OR TITLE INSURANCE BROKER SHALL
NOTIFY THE COMMISSIONER IF AN INDIVIDUAL LICENSED UNDER THIS SUBTITLE
LEAVES THE EMPLOYMENT OF OR ENDS AN ASSOCIATION WITH THE TITLE
INSURANCE AGENT OR TITLE INSURANCE BROKER.

(2) THE TITLE INSURANCE AGENT OR TITLE INSURANCE BROKER
REQUIRED TO PROVIDE NOTICE UNDER THIS SUBSECTION SHALL NOTIFY THE
COMMISSIONER WITHIN 5 WORKING DAYS AFTER THE DAY THE INDIVIDUAL
LEAVES EMPLOYMENT OR ENDS THE ASSOCIATION.

(3) THE NOTICE REQUIRED UNDER THIS SUBSECTION SHALL BE IN
WRITING AND BY CERTIFIED MAIL.

10-125.1.

(A) (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

(2) (I) "LAW FIRM" MEANS AN ASSOCIATION OF ATTORNEYS WHO
ARE ADMITTED TO PRACTICE BEFORE THE COURT OF APPEALS OF THE STATE WHO:

1. ARE PRIMARILY ENGAGED IN THE PRACTICE OF LAW;
AND

2. SOLICIT, PROCURE, OR NEGOTIATE TITLE INSURANCE
CONTRACTS ONLY AS AN INCIDENT TO THE PRACTICE OF LAW.

(II)     "LAW FIRM" INCLUDES A SOLE PRACTITIONER.

(III)    "LAW FIRM" DOES NOT INCLUDE:

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