New Mexico Administrative Code

NM form 68 may be attached to a policy upon being furnished a satisfactory survey. A separate endorsement shall be issued for each public street, road or highway for which the insured wants access and entry coverage, and a separate premium shall be paid for each endorsement issue…

NM form 69 may be attached to a policy upon satisfactory proof that the insured property has access to specified public utilities.

NM form 70 may be attached to a policy. This endorsement shall not be attached to a policy that insures one to four family residential property.

NM form 71 may be attached to a loan policy that insures one to four family residential property. A. The loan policy issued on a reverse mortgage may be issued in either the total amount of advances or one hundred-fifty percent of the total amount of advances as requested by the …

Sections 59A-2-8, 59A-2-9, 59A-30-4, 59A-30-5, 59A-30-6, 59A-30-6.1, 59A-30-6.2 and 59A-30-8 NMSA 1978.

NM form 72 may be attached to a policy. This endorsement shall not be attached to a policy that insures one to four family residential property.

NM form 73 may be attached to a policy. This endorsement shall not be attached to a policy that insures one to four family residential property.

NM form 74 may be attached to a loan policy. This endorsement shall not be attached to a policy that insures one to four family residential property.

NM form 75 may be attached to a policy. This endorsement shall not be attached to a policy that insures one to four family residential property.

NM form 76 may be attached to a policy. This endorsement shall not be attached to a policy that insures one to four family residential property.

NM form 88, 88.1, 88.2, 88.3, 88.4, 88.5, 88.6, 88.7, or 88.8 may be attached to a policy, as applicable. These endorsements shall not be attached to a policy that insures one to four family residential property.

NM form 89 may be attached to an owner's policy. This endorsement shall not be attached to a policy that insures one to four family residential property.

Permanent.

NM form 12 and NM form 30 may be attached to a policy, as applicable. Paragraph 3 of NM form 30 may be deleted at the option of the title insurer.

NM form 13 and NM form 13.1 may be attached to a policy, as applicable. Paragraph 1 of NM form 13 may be deleted at the option of the title insurer.

A. NM form 46 may be issued one or more times after issuance of NM form 45. B. NM form 46 may not be issued more than one year after the date of policy stated in NM form 45. C.Upon request of the named insured and the proper recording of all necessary documents meeting the title …

January 1, 2021, unless a later date is cited at the end of a section.

The purpose of this rule is to establish requirements for endorsements to title insurance policies.

See 13.14.1 NMAC.

NM form 11 may be used only as follows: A. to modify any promulgated form if the modification is authorized by these rules; B. to insert, delete or add to a commitment, policy or endorsement, language required or authorized by any of these rules when appropriate to do so; or C. t…

Office of Superintendent of Insurance ("OSI").

The premium rates and charges established by the superintendent include all premiums for title insurance, examination of the title or titles to be insured, determining that each insured estate has been created, conveyed or modified as shown in the policy, and determining what exc…

No portion, split or percentage of any premium shall be paid either directly or indirectly to any person, firm or organization for title insurance, title examination, or determining status of title as set forth above, except a division of premium between an insurer admitted to tr…

A title insurance agency or title insurer shall charge the applicable rates and charges for each transaction and shall not offer or grant a credit, discount or rebate that is not authorized by these rules.

All premiums charged for title insurance policies, endorsements, or commitments shall be rounded to the nearest dollar after all necessary computations have been performed. Fifty cents or more shall be rounded up; 49 cents or less shall be rounded down.

To compute any premium, a $1,000 fraction of coverage shall be calculated as a full $1,000.

A title insurance agency or title insurer shall charge premiums rates, charges and fees on a non-discriminatory basis for like risks and like insureds.

Whenever the search or examination conducted for the issuance of a policy involves either an extra chain of title or other unusual complexity, fees shall be charged for each additional chain of title pertaining to platted tracts and for each tract of unusual complexity of search …

No policy or endorsement (excluding pro formas) shall be issued without payment in full of the premium for such policy or endorsement within 15 days of the issuance of any policy or endorsement in accordance with Section 59A-30-5.1 NMSA 1978. In the event that payment in availabl…

A.A charge shall be collected for the initial six months and for each additional six-month renewal or extension (or portion thereof) of a commitment. If a new version of a commitment is issued to correct an error by the title insurer or agency, the new version shall be issued at …

This rule applies to all title insurers, title insurance agencies, and title insurance agents conducting the business of title insurance in New Mexico.

Original owner's policies not issued simultaneously with another policy or policies and not as a reissue of an owner's policy shall be issued at the basic premium rate according to the schedule in effect as of the date of the policy.

Original policies insuring a leasehold estate, not issued simultaneously with another policy and not as a reissue of a policy insuring a leasehold estate, shall be charged at the basic premium rate according to the schedule in effect as of the date of the policy. Original policie…

Premiums for an original loan policy shall be determined in a title rate case.

When the applicant for an owner's policy transfers, at the time of application for the policy, to the title insurance agency or title insurer ownership of the abstract of title covering all or part of the premises to be insured, a credit shall be determined based on a percentage …

When a title insurer is placed in receivership, and a replacement title insurance policy is issued by a title insurance agency, the title insurance agency's division of premium shall be computed in accordance with the current division ordered by the superintendent. If a title ins…

The premium for NM form 41 and 42 shall be established in a title rate case. If an NM 41 form is issued and an owner's policy is issued following completion of the foreclosure, the owner's policy shall qualify for a reissue rate ordered by the superintendent in a title rate case.…