Posted by Hart - Marilyn on 10/2/09 9:12pm
Msg #305987

SURETY BOND FOR MARYLAND TITLE PRODUCERS

Is anyone getting any prices on the Surety Bond that Maryland Title Producers must have by year end?
Maryland is requiring $150,000 Bond...

Reply by Ilene C. Seidel on 10/3/09 8:30am
Msg #306010

Maryilyn check with the commissioner office the law isn't clear as to when we need to increase our bond. My license expires 10/2010 so I don't need the addl $50k until next renewal date. A lot of us use Chesapeake Insurance Mike Tracy if you need his no. just respond me his prices are very reasonable.

Reply by Barbara Taylor on 10/5/09 8:48am
Msg #306184

You may want to hold up. Went to several meetings in Annapolis before Senator Kelley and others realized that we notaries do not handle TRUST MONIES and that it is with great possibility that we might not need a surety bond of that caliber. Senator Kelley said that she now understands our position and they would have to make changes for us. I sent her and the MIA information to contact NNA to design a bond for us. You may want to attend the next hearing in Annapolis. Check the MIA website producer section for the next date. This is good news. I fought as hard as I could. Pray God will push them to sway our way.

Reply by bowie_MD on 10/5/09 8:24pm
Msg #306307

just saw this. I hve ins with Chesapeake also. just paid an additonal $150 for increase to $150,000. I talked to MIA and was told that even though I do not renew license until Oct 2010 I still need to increase to $150,000