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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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BUSINESS OCCUPATIONS AND PROFESSIONS |
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TITLE 16. REAL ESTATE APPRAISERS, APPRAISAL MANAGEMENT COMPANIES, AND HOME INSPECTORS. |
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SUBTITLE 4A. MISCELLANEOUS PROVISIONS FOR HOME INSPECTORS |
§ 16-4A-04. General liability insurance
Latest version.
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(a) Amount. -- A home inspector licensed by the Commission shall maintain general liability insurance in the amount of at least $ 150,000.
(b) Proof of insurance. --
(1) An applicant shall submit proof of the insurance required under this section to the Commission with the license application.
(2) The Commission may not issue a license to an applicant unless the applicant submits proof of the insurance.
(c) Renewal. -- Unless an applicant meets the insurance requirements of this section, the Commission may not renew the license.
(d) Notice of cancellation. -- A licensee shall give the Commission notice of the cancellation of insurance required under this section at least 10 days before the effective date of the cancellation.