Ch. 239                                    1996 LAWS OF MARYLAND

insurance agent or broker to be issued to a limited liability company; requiring the
Insurance Commissioner to investigate the character of each controlling owner
when an applicant for a certificate of qualification for a title insurance agent is a
corporation; repealing a certain requirement that a director of a corporation must hold
a title insurance certificate of qualification; authorizing the Commissioner to deny
renewal or refuse to grant an application for a certificate of qualification under
certain circumstances; providing for the future codification of certain provisions of
this Act; and generally relating to title insurance agents and brokers.

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

Section 168(e), 168A(e), (f), and (g)(1), 173A(c), and 175(b)
Annotated Code of Maryland
(1994 Replacement Volume and 1995 Supplement)

BY repealing and reenacting, with amendments,
Article - Insurance

Section 10-103(d), 10-112(d), 10-114, 10-121(c), (d), and (e), 10-125(d), and

10-126(b)
Annotated Code of Maryland
(1995 Volume)
(As enacted by Chapters 36 and 635 of the Acts of the General Assembly of 1995)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 48A - Insurance Code

168.

(e) (1) A LIMITED LIABILITY COMPANY, [partnership] PARTNERSHIP, or
corporation may not accept in its own name commissions, fees, or other compensation for
acting as an agent or broker unless it possesses a certificate of qualification in the kind or
subdivision of insurance for which the LIMITED LIABILITY COMPANY, [partnership]
PARTNERSHIP, or corporation intends to act as an agent or broker and an appointment
for the kind or subdivision of insurance thereof for which it intends to act as agent.

(2) To obtain a certificate of qualification, a LIMITED LIABILITY
COMPANY, [partnership] PARTNERSHIP, or corporation must:

(i) Be primarily engaged in the insurance business;

(ii) File the appropriate form as adopted by the Commissioner;

(iii) Pay the fee set forth in § 41 of this article; and

(iv) In addition to any other information required on the application,
provide the name and address of each insurance agent or broker employed by the
LIMITED LIABILITY COMPANY, [corporation or partnership] CORPORATION, OR
PARTNERSHIP, EACH INDIVIDUAL WHO HAS DIRECT CONTROL OVER ITS FISCAL

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