Maryland § 11-402
Full text of Maryland Maryland Code § 11-402, with citation guidance and answers to common questions.
§ 11-402.
(a) All title insurance rates shall be made in accordance with this section.
(b) Rates shall be reasonable and adequate for the class of risks to which they apply.
(c) Rates may not discriminate unfairly between risks that involve essentially the same hazards and expense elements.
(d) Due consideration shall be given to:
(1) past and prospective loss experience within and outside the State;
(2) a reasonable margin for profit and contingencies;
(3) the cost of participating insurance;
(4) the percentage to be allocated to reserve;
(5) operating expenses; and
(6) all other relevant factors fairly attributable to the business of title insurance.
(e) (1) Guarantees may be grouped by classifications for the establishment of rates and minimum premiums.
(2) A special or unusual guarantee that is more hazardous to the title insurer than ordinary title guarantees because of an alleged irregularity or a difference in interpretation or application of law that might affect marketability of title, may be classified individually and separately according to the circumstances peculiar to each case.
Frequently Asked Questions About Maryland § 11-402
What does Maryland Code § 11-402 cover?
Section 11-402 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 11-402?
A common citation format is "Maryland Code § 11-402" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 11-402 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.