§ 22-104. Title insurance commitment or sample of form of policy requirements
West's Annotated Code of MarylandInsuranceEffective: October 1, 2014
Effective: October 1, 2014
MD Code, Insurance, § 22-104
§ 22-104. Title insurance commitment or sample of form of policy requirements
(a) A title insurance commitment or sample of the form of policy into which the contingencies and conditions for insuring will be inserted:
(b) The rights, duties, and responsibilities applicable to the preparation or issuance of an abstract of title do not apply to the issuance of a title insurance commitment or sample of the form of policy into which the contingencies and conditions for insuring will be inserted.
(c) A title insurance commitment or sample of the form of policy into which the contingencies and conditions for insuring will be inserted shall contain the following statement:
“This document constitutes a statement of the terms and conditions on which a title insurer is willing to issue a policy of title insurance if the title insurer accepts the premium for the policy. It is not a representation as to the state of title and does not constitute an abstract of title.”.
Credits
Added by Acts 2014, c. 318, § 2, eff. Oct. 1, 2014; Acts 2014, c. 319, § 2, eff. Oct. 1, 2014.
MD Code, Insurance, § 22-104, MD INSURANCE § 22-104
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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