N.M. Code R. § 13.14.9.19

Current through Register Vol. 35, No. 11, June 11, 2024

Section 13.14.9.19 - NON-POLICY CHARGES

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 no charge.

B.If the transaction fails to close and no policy is issued, the title insurer or agency shall charge a cancellation fee.

C.The charge for a pro forma policy shall be established in a title rate case. If a pro forma is issued to correct an error by the issuing title insurer or agency, the corrected version shall be issued at no charge.

N.M. Code R. § 13.14.9.19

6-16-86...3-1-89; 6-1-97, 6-1-98; 13.14.9.19 NMAC - Rn, 13 NMAC 14.9.9, 5-15-00; A, 10-1-12, Amended by New Mexico Register, Volume XXVI, Issue 24, December 30, 2015, eff. 3/1/2016, Amended by New Mexico Register, Volume XXIX, Issue 10, May 29, 2018, eff. 7/1/2018, Adopted by New Mexico Register, Volume XXXI, Issue 24, December 29, 2020, eff. 1/1/2021