Lauren Bunting Broker MD & DE

More bills slated to impact industry

Friday, June 21, 2024, Lauren Bunting

Maryland Realtors’ final recap of the pertinent legislation that passed during the 2024 General Assembly set to affect the real estate industry covers the “Commercial and Affiliated Industries” section.

The bills are as follows:

HB 36 Insurance - Protections After Loss or Damage to Property (Effective Oct. 1): A public adjuster, or anyone acting on their behalf, may not solicit or attempt to solicit a client between the hours of 8 p.m. and 8 a.m., and cancellation periods for adjustment contracts are extended from three to 10 days.

HB 265/SB 336 Insurance - Producer Licensing Requirements - Education and Experience (Effective Oct. 1): This bill repeals specified education and experience requirements for most applicants to obtain an insurance producer license from the Maryland Insurance Administration.

HB 382/SB 344 Criminal and Civil Trespass - Professional Land Surveyors (Effective Oct. 1): Professional land surveyors, and their agents and employees, who enter the property of another to practice land surveying are exempted from criminal trespass provisions.

HB 697/SB 1169 Real Estate Brokers – Commercial Transactions – Buyer’s Rights (Effective Oct. 1): This bill extends the current right of a buyer to select a title company, settlement company, escrow agent or title attorney to commercial transactions.

HB 710/SB 559 Household Goods Movers – Special Fund and Fees (Effective July 1): This bill establishes the Household Goods Movers Registration Fund administered by the Maryland Department of Labor to cover the costs of regulating the industry.

HB 738/SB 806 Licensed Home Improvement Contractors - Liability Insurance (Effective Oct. 1): Licensed home improvement contractors or applicants for a home improvement contractor license must maintain $500,000 of general liability insurance.

SB 298 State Board of Electricians - Licensing – Penalties (Effective Oct. 1): The State Board of Electricians may assess a civil penalty of up to $5,000 for each violation of the licensing statute. The board must also submit a report on its practices and processes for the timely resolution of complaints filed against licensees by July 1.

Lauren Bunting is a Broker with Keller Williams Realty of Delmarva in Ocean City, Maryland.

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Penny Carley

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Mike and Patty Locke

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Allison Shockley and Patrick Molloy

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Shireen and Mark Ambush

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Liz Young

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