(a)(1) In this section the following words have the meanings indicated.
(2) “Attorney” means an individual admitted to practice law by the Supreme Court of Maryland.
(3)(i) “Law firm” means an association of attorneys in a law partnership, professional corporation, sole proprietorship, or other business entity 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:
1. an attorney or an association of attorneys who own, operate, or share an interest in a title agency; or
2. an attorney who is employed by a title agency as a title insurance producer.
(4)(i) “Title agency” means a business entity, other than a law firm, formed for the primary purpose of soliciting, procuring, or negotiating title insurance contracts and providing settlement services.
(ii) “Title agency” includes a sole proprietor, partnership, or corporation.
Attorneys acting as title insurance producers
(b) Subject to this section, the Commissioner may issue a limited lines license to an attorney who solicits, procures, or negotiates title insurance contracts to act as a title insurance producer.
Licensing provisions applicable to attorneys and title agencies
(c) All licensing provisions of this subtitle apply to:
(1) an attorney who solicits, procures, or negotiates title insurance contracts; and
(2) title agencies even if the title agency is established or owned by an attorney or an association of attorneys.
Bonding, education, experience, and examination requirements
(d) Notwithstanding any other provision of this subtitle:
(1)(i) the licensing, bonding, education, experience, and examination requirements of this subtitle relating to title insurance producers do not apply to law firms; and
(ii) except as otherwise provided in paragraph (2) of this subsection, the bonding, education, experience, and examination requirements of this subtitle relating to title insurance producers do not apply to attorneys.
(2) The bonding requirements of this subtitle are applicable to:
(i) an attorney or an association of attorneys who own, operate, or share an interest in a title agency; and
(ii) an attorney who is employed by a title agency as a title insurance producer.
Credits
Added by Acts 1995, c. 635, § 2, eff. Oct. 1, 1997. Amended by Acts 1996, c. 60, § 1, eff. Oct. 1, 1997; Acts 1996, c. 206, § 2, eff. Oct. 1, 1997; Acts 1996, c. 239, § 2, eff. Oct. 1, 1997; Acts 1997, c. 656, § 5, eff. Oct. 1, 1997; Acts 2001, c. 209, § 1, eff. Oct. 1, 2001; Acts 2001, c. 731, § 1, 9, eff. July 2, 2001; Acts 2002, c. 19, § 5, eff. April 9, 2002; Acts 2002, c. 369, § 1, eff. Oct. 1, 2002; Acts 2006, c. 620, § 1, eff. Oct. 1, 2006; Acts 2023, c. 49, § 6.
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
