Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 16 - MISCELLANEOUS
Chapter 31.16.03 - Title Insurance Companies-MAHT Account
Section 31.16.03.05 - Separate Accounts
Universal Citation: MD Code Reg 31.16.03.05
Current through Register Vol. 51, No. 19, September 20, 2024
A. Trust money which is not required to be deposited into a MAHT account may be deposited into any other deposit or investment vehicle:
(1) Specified by the buyer or beneficial owner; or
(2) Agreed upon by the buyer or beneficial owner and the title insurer or title insurance producer.
B. An agreement referred to in §A of this regulation between a buyer or beneficial owner and a title insurer or title insurance producer shall be in writing and either be:
(1) In a separate agreement; or
(2) If part of another agreement between the parties, in conspicuous type and initialed by the buyer or beneficial owner.
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