Re-Issuance of Bulletin 03-18: Notaries Who Participate in Real Estate Closings or Settlements

LARRY HOGAN Governor BOYD K. RUTHERFORD Lt. Governor MARYLAND INSURANCE ADMINISTRATION AL REDMER, JR. Commissioner NANCY GRODIN Deputy Commissioner VICTORIA AUGUST Associate Commissioner Compliance & Enforcement 200 St. Paul Place, Suite 2700, Baltimore, Maryland 21202 Direct Dial: 410-468-2217 Fax: 410-468-2245 Email: victoria.august@maryland.gov 1-800-492-6116 TTY: 1-800-735-2258 Bulletin 16-34 Date: November 29, 2016 To: All Title Insurers and Insurance Producers Re: Re-Issuance of Bulletin 03-18: Notaries Who Participate in Real Estate Closings or Settlements The purpose of this Bulletin is re-affirm the position of the Maryland Insurance Administration ("MIA") as previously announced in Bulletin 03-18 regarding the application of §10-101(l) of the Insurance Article of the Annotated Code of Maryland to notaries public who participate in real estate closings or settlements. Pursuant to § 10-101(l), any person or company that provides escrow, closing, or settlement services that may result in the issuance of title insurance must be licensed by the MIA as a title insurance producer. A notary who merely attends a real estate closing or settlement that is conducted by another person or entity and who merely witnesses signatures in consideration of the statutory fees that a notary is permitted to charge does not, in the view of the MIA, fall within the scope of § 10-101(l) and is not required to secure a title insurance producer's license in order to perform such services. However, if the notary is the only individual other than the buyer who is present and the notary is presenting documents for signature which may result in the issuance of title insurance, collecting escrow funds, or otherwise performing any duty other than the witnessing of a signature, it is the position of the MIA that the notary is performing escrow, closing or settlement services that fall within the scope of § 10-101(l) and, thus, must be licensed as a title insurance producer to perform those services. Any questions regarding this Bulletin should be addressed to Darlene Arnold, Director of Enforcement, Compliance and Enforcement at: darlene.arnold@maryland.gov or 410-468-2354. Alfred W. Redmer, Jr. Commissioner By: signature on original Victoria August, Associate Commissioner Compliance and Enforcement