2016 Maryland Code
Insurance
Title 22 - Title Insurance
§ 22-104. Title insurance commitment or sample of the form of policy.
(a) In general. -- 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) Inapplicability of rights, duties, and responsibilities applicable to the preparation or issuance of an abstract of title. -- 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) Required statement. -- 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.".
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