1. (a) Except as otherwise provided in subsection (b) of this section, in a real estate transaction involving a single-family dwelling, a real estate broker, an associate real estate broker, a real estate salesperson, or a lawyer acting as a real estate broker may not require a buyer, as a condition of settlement, to employ a particular:

   1. (1) title insurance company;
   2. (2) settlement company;
   3. (3) escrow company;
   4. (4) mortgage lender, or financial institution as defined in the Financial Institutions Article; or
   5. (5) title lawyer.
2. (b) A seller may not be prohibited from offering owner financing as a condition of settlement.

Added by Acts 1989, c. 3, § 1, eff. Oct. 1, 1989. Amended by Acts 1991, c. 527. Renumbered from Business Occupations and Professions § 16-607 by Acts 1994, c. 3, § 13, eff. Feb. 28, 1994.

Formerly Art. 56A, § 4-607.