Chapter 02. Title Service Agents

In this chapter, the following terms have the meanings indicated.

Terms Defined.

An individual may not conduct the business of a title service agent unless the individual meets the requirements set forth in this chapter and is licensed.

A license may be obtained by submitting to the Administration in the form required by the Administration:

The Administration may renew licenses every 2 years.

A licensed title service agent shall notify the Administration immediately of any change in the information submitted in the original application or a renewal application.

Before issuing a license, the Administration shall inspect and approve a title service agent's office.

Zoning of a Title Service Agent's Office.

A title service agent's office shall be equipped with:

Signs. A title service agent's office shall have, unless prohibited by local ordinances, a sign which shall clearly indicate the type of business conducted at the office.

The license shall be displayed in the office.

Records Retention. A title service agent shall retain those records relating to the business for a minimum of 3 years. These records shall include, but are not limited to, transaction transmittal forms specified in Regulation .05 of this chapter and those records relating to the collection of:

These records shall identify the:

The records shall be readily available for inspection by the Administrator or the Administrator's designated representative.

A title service agent shall send transactions to the Administration only on a transmittal form furnished by the Administration and in the manner required by the Administration.

The Administration shall return a receipted copy of the transmittal form to the title service agent.

An applicant for a license shall file with the Administration, per business entity registered with the State Department of Assessments and Taxation, acceptable evidence of a surety bond in such form as the Administration shall approve and with a surety approved by the Administration in the sum set forth in Transportation Article, §15-604, Annotated Code of Maryland.

A bonding company shall give the Administration at least 45 days notice by registered or certified mail of the cancellation of a title service agent's bond, and the bond shall be considered to be in full force and effect for a period of at least 45 days after notice is given.

When applying for an original or renewal license, a title service agent shall provide the Administration, on a form furnished by the Administration, the names of employees and agents employed by the agent.

The Administration shall issue each employee or agent an identification card which authorizes the employee or agent to act on behalf of the title service agent.

The title service agent shall immediately surrender to the Administration the identification card of an employee or agent whose employment with the title service agent is terminated.

Has perpetrated a fraud against the Administration or the public;

Is advertising in such a manner as to imply that the agent is associated with or a part of the Administration or another State agency; or

Is conducting the business of a title service agent in a manner which is detrimental to the interests of the Administration or the public.