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§ 22-104. Title insurance commitment or sample of form of policy requirements

West's Annotated Code of MarylandInsuranceEffective: October 1, 2014

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 22. Title Insurance
Effective: October 1, 2014
MD Code, Insurance, § 22-104
§ 22-104. Title insurance commitment or sample of form of policy requirements
In general
(a) A title insurance commitment or sample of the form of policy into which the contingencies and conditions for insuring will be inserted:
(1) 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;
(2) is not a representation as to the state of title; and
(3) does not constitute an abstract of title.
Rights, duties, and responsibilities
(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.
Required statement
(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 all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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