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§ 10-121.1. Restrictions relating to use of title insurance producer independent contractors

West's Annotated Code of MarylandInsuranceEffective: July 1, 2010

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 10. Regulation of Insurance Professions
Subtitle 1. Insurance Producers (Refs & Annos)
Effective: July 1, 2010
MD Code, Insurance, § 10-121.1
§ 10-121.1. Restrictions relating to use of title insurance producer independent contractors
Currentness
In general
(a) A title insurance producer may not use or accept the services of a title insurance producer independent contractor unless the title insurance producer independent contractor:
(1) holds an appointment with the title insurer with which the contract of title insurance may be placed; and
(2) is covered under the title insurance producer's:
(i) blanket fidelity bond; and
(ii) blanket surety bond or letter of credit.
Liability for actions of title insurance producer independent contractor
(b)(1) A title insurance producer that uses the services of a title insurance producer independent contractor is:
(i) the legal principal of the title insurance producer independent contractor; and
(ii) liable for all actions of the title insurance producer independent contractor, including unintentional conduct, that occurs within the scope of the title insurance producer's independent contractor's employment.
(2) When a mortgage or deed of trust is executed in a transaction in which a title insurance producer independent contractor is acting for or on behalf of a title insurance producer, there shall be included on or with the recorded mortgage or deed of trust the name, address, and license number of the title insurance producer independent contractor and the title insurance producer for which the title insurance producer independent contractor is acting.

Credits

Added by Acts 2006, c. 620, § 1, eff. Oct. 1, 2006. Amended by Acts 2010, c. 740, § 1, eff. July 1, 2010.
MD Code, Insurance, § 10-121.1, MD INSURANCE § 10-121.1
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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