Md. Code Regs. 11.12.02.06

Current through Register Vol. 51, No. 20, October 4, 2024

Section 11.12.02.06 - Surety Bond

A. An applicant for a license shall file with the Administration, per business entity registered with the State Department of Assessment 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.

B. 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.

Regulations .06 adopted effective January 29, 1996 (23:2 Md. R. 96); amended effective 45:20 Md. R. 918, eff. 10/8/2018; amended effective 46:5 Md. R. 306, eff. 3/11/2019