Section 22-104 - Title insurance commitment or sample of the form of policy(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.(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.".
Added by 2014 Md. Laws, Ch. 319,Sec. 2, eff. 10/1/2014.Added by 2014 Md. Laws, Ch. 318,Sec. 2, eff. 10/1/2014.