The Maryland Title Service Agent Bond is required by State of Maryland, Administrator of Motor Vehicles, in the amount of $50,000. The bond states that the bond holder must conduct business in full compliance with those Sections of the Transportation Article, of the Annotated Code of Maryland.
A title service agent, as defined by the 2018 Laws of Maryland, is any person in the business of physically or electronically transporting to and from the administration certificates of title, registrations, driver’s licensed, certified copies of records, and other related documents. All who wish to be in this profession must first be licensed by the department.
What are the requirements in order to be a licensed Title Service Agent in Maryland?
As per the recently signed House Bill 1065, there are now some new requirements that need to be met for the licensing of title service agents in the state. Please refer to the list below for said requirements.
- Completed application form
- Zoning Approval Form
- Criminal Background checks for all who have a financial interest in the dealership.
- Copy of trader’s license
- Business registration letter
- Maryland Title Service Agent Bond in the amount of $50,000
- Note: the cost to purchase this bond will only be a small percentage of this bond amount!
Where can I get a Maryland Title Service Agent Bond?
If you are in need of a surety bond, Surety1 can issue this bond quickly and reliably. In fact, in most cases, you can get your bond approved within just one business day. Just fill out our free online application form, and one of our surety experts will contact you with a quote and further instructions. Once you pay the bond premium and sign the agreement, we can send your Maryland Title Service Agent Bond via USPS Priority Mail or overnight delivery!
Surety Solutions Insurance Service, Inc. (Surety1) has been in the surety bonding business since 2003 and we pride ourselves on our quality service, as evidenced by our A+ rating from the Better Business Bureau.