On Apr. 8, NM INS proposed rule re title insurance premiums.
NM LEG issued notice of proposed rulemaking and hearing to amend New Mexico administrative code re escrow, endorsements, premiums, statistical reports and forms.
Defines electronic transfer to apply to NM INS 13.14.4.10; adds as a means to send and receive funds, add escrow transaction to the notice and disclosure requirements.
Allows implementation/use of Forms 65.3, 76.1, 76.2, 76.3, 90, 92, 93, 94, 94.1, 95.
Adds informal hearings, as the procedure to request terms, conditions, and rate(s) for use of Form 85, and allows premium splits, amended Form 3 to the statistical reports.
Adds Schedule I to statistical report, amended base premium rates (BPR), added $25 premiums for boundaries/easements, 10% BPR tax credit premium/$250 minimum.
Hearing, Request for Comments
Hearing will begin on May 13, 2025; written comments must be submitted by May 8.
Regulators
NM INS
Entity Types
Ins
Reference
Nt, RF 2025-0013, NM SR Vol. XXXVI Is. 7, 4/8/2025; Citation: *NM INS* 13.14.4, 13.14.4, 13.14.8, 13.14.9.13, 13.14.16, 13.14.17;
