Notwithstanding the provisions of § 4-104 of this subtitle, a title insurer domiciled in this State shall have and maintain paid-in capital stock with a fixed nominal or par value in the amount of:
(1) $500,000 as of July 1, 2010;
(2) $625,000 as of July 1, 2011; and
(3) $750,000 as of July 1, 2012, and each July 1 thereafter.