New Mexico Register / Volume XXXII, Issue 20 / October 26, 2021

 

 

NOTICE OF PROPOSED RULEMAKING

 

NOTICE IS HEREBY GIVEN that the Superintendent of Insurance (“OSI” or “Superintendent”) will hold a public video/telephone hearing regarding proposed amendments to 13.14.4 and 13.14.9 NMAC and repealing of 13.14.10 NMAC. This hearing will commence on November 29, 2021, at 1:30 p.m.

 

PURPOSE AND SUMMARY OF THE PROPOSED AMENDMENTS:  The purpose of the proposed rule amendments is to implement the New Mexico Title Insurance Law regarding the establishment of rules, rates, charges, and requirements for title insurance in the State.  The proposed rule amendments would affect:  Part 4 by amending 13.14.4.8(G) to resolve a possible conflict with 12 C.F.R 1026.38(t)(5); and Part 9 by adding a new clause in 13.14.9.17 to clarify the requirement to charge premium and amending that Part throughout as needed to clean up certain language adopted in the last rulemaking, and to ensure that all monetary compensation elements, including premium and non-premium charges, are properly coordinated with the biennial rate case.  The proposed rule amendments would repeal Part 10, “Endorsement Rates.”

 

STATUTORY AUTHORITY:  Section 59A-2-9 and Subsection B of Section 59A-30-8 NMSA 1978.

 

TO ATTEND THE HEARING:   Join via Video: https://us02web.zoom.us/j/2916274744

Join via telephone: 1-312-626-6799

Meeting ID: 291 627 4744

 

The Superintendent designates R. Alfred Walker to act as the hearing officer for this rulemaking. Oral comments will be accepted at the public hearing from members of the public and other interested parties. Any updates concerning the hearing date, time, or location will be available by subscribing to the “Title Rates & Rules” newsletter at:  https://newsletter.osi.state.nm.us/.

 

Copies of the Notice of Proposed Rulemaking and proposed amended rules are available by electronic download from the OSI eDocket https://edocket.osi.state.nm.us/guest/case-view/5697 or the New Mexico Sunshine portal, or by requesting a copy by calling (505) 476-0333. Note: Due to the COVID-19 pandemic, the physical offices of the OSI remain closed to the public until further notice.

 

Written comments will be accepted through 4:00 p.m. on November 29, 2021.  Responses to written comments or oral comments will be accepted through 4:00 p.m. on December 10, 2021.  All comments shall be filed electronically through the OSI eDocket at https://edocket.osi.state.nm.us/guest/case-view/5697 or received by mail to:

 

OSI Records and Docketing, NM Office of Superintendent of Insurance

1120 Paseo de Peralta, P.O. Box 1689, Santa Fe, NM 87504-1689.

For help submitting a filing, please contact OSI-docketfiling@state.nm.us.

The below docket number must be indicated on filed comments.

Docket No. 2021-0074 

IN THE MATTER OF ADOPTION OF AMENDMENTS TO THE TITLE INSURANCE REGULATIONS CODIFIED AT TITLE 13, CHAPTER 14 NMAC

 

All filings must be received between the hours of 8:00 a.m. and 4:00 p.m. Monday through Friday except on state holidays.  Any filings after 4:00 will be filed to the docket the next business day. The Superintendent will consider all oral comments and will review all timely submitted written comments and responses. 

 

SPECIAL NEEDS:  Any person with a disability requiring special assistance to participate in the hearing should contact Melissa Gutierrez at 505-476-0333 no later than ten (10) business days prior to the hearing.

 

DONE AND ORDERED this 26th day of October, 2021

/S/RUSSELL TOAL