TITLE 13 INSURANCE
CHAPTER 14 TITLE INSURANCE
PART 16 AGENCY’S STATISTICAL REPORT
13.14.16.1 ISSUING AGENCY: Office of Superintendent of Insurance
(“OSI”).
[13.14.16.1 NMAC – Rp, 13.14.16.1 NMAC, 1/1/2021]
13.14.16.2 SCOPE: This rule applies to all title insurers,
title insurance agencies, and title insurance agents conducting title insurance
business in New Mexico.
[13.14.16.2 NMAC – Rp, 13.14.16.2 NMAC, 1/1/2021]
13.14.16.3 STATUTORY AUTHORITY: Sections 59A-2-8, 59A-2-9, 59A-30-4,
59A-30-6, 59A-30-6.1, 59A-30-6.2 and 59A-30-8 NMSA 1978.
[13.14.16.3 NMAC – Rp, 13.14.16.3 NMAC, 1/1/2021]
13.14.16.4 DURATION: Permanent.
[13.14.16.4 NMAC – Rp, 13.14.16.4 NMAC, 1/1/2021]
13.14.16.5 EFFECTIVE DATE: January 1, 2021, unless a later date is cited
at the end of a section.
[13.14.16.5 NMAC – Rp, 13.14.16.5 NMAC, 1/1/2021]
13.14.16.6 OBJECTIVE: The purpose of this rule is to provide forms and rules for preparing
the required agency
statistical report.
[13.14.16.6 NMAC – Rp, 13.14.16.6 NMAC, 1/1/2021]
13.14.16.7 DEFINITIONS: See 13.14.1 NMAC.
[13.14.16.7 NMAC – Rp, 13.14.16.7 NMAC, 1/1/2021]
13.14.16.8 AGENCY
STATISTICAL REPORT: Every agency shall report income and expenses
annually on both county-by-county and summary-of-all counties bases. The agency
shall use the agency statistical report form set forth in this rule, Agency
Statistical Report, and instructions published by OSI. The superintendent shall
annually issue an order to fix the date and location for the filing of each
agency statistical report for the calendar year and shall notify each agency of
the date at least sixty days prior to the filing deadline; provided, however,
that in no event shall an agency be required to file its statistical report prior
to May 15th of the year following the end of the calendar year being
reported. Each agency shall maintain
such minimum basic records on each New Mexico transaction as shall be necessary
to accurately report such transactions.
[13.14.16.8 NMAC – Rp, 13.14.16.8 NMAC, 1/1/2021]
13.14.16.9 SCHEDULE A - STATEMENT OF INCOME
AND EXPENSES:
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NEW
MEXICO TITLE INSURANCE AGENCY STATISTICAL REPORT SCHEDULE
A - STATEMENT OF INCOME AND EXPENSES For
the Calendar Year Ending December 31, 20___. |
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AGENCY NAME |
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LICENSE NUMBER |
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ADDRESS |
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CONTACT NAME |
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Check one: |
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INDEPENDENT (NON-AFFILIATED) |
Title insurance agencies that are
independently owned and write title insurance business for one or more title
insurers. |
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AFFILIATED |
Title insurance agencies with 10%
or greater ownership by a title insurer, including wholly-owned agencies. |
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DIRECT |
Agency-type operations performed
by the home or branch office of a title insurer. This does NOT
include wholly-owned agencies. |
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Part A: Revenue |
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1. |
Title insurance written
premiums (from Schedule B) |
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2. |
Less: Remitted title insurance
premiums (from Schedule B) |
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3. |
Retained title insurance
premiums (from Schedule B) |
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4. |
Other income (from
Schedule C) |
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5. |
Total Revenue |
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Part B: Expenses |
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1. |
Employees’ salaries and wages |
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2. |
Owners’ and partners’ salaries and
wages |
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3. |
Employee benefits |
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4. |
Rent |
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5. |
Insurance |
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6. |
Legal expense |
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7. |
Licenses, taxes and fees |
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8. |
Title plant expense and
maintenance |
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9. |
Office supplies |
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10. |
Depreciation |
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11. |
Automobile expense |
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12. |
Communication expense |
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13. |
Education expense |
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14. |
Bad debts |
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15. |
Interest expense |
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16. |
Employee travel and lodging |
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17. |
Loss and loss adjustment expense
(from Schedule D) |
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18. |
Accounting and auditing expense |
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19. |
Public relations expense |
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20. |
Other expenses (from Schedule E) |
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21. |
Total Expenses |
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Part C: Net Income for Ratemaking
Purposes |
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1. |
Income (Loss) from Operations |
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Part D: Excluded Expenses |
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1. |
NMLTA lobbying expense |
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2. |
Direct lobbying expense |
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3. |
Political contributions |
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4. |
State and federal income tax
expense |
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5. |
½ of meals and entertainment
expense |
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6. |
Penalties |
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7. |
Country club dues |
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8. |
Salaries in excess of salary cap |
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9. |
Other excluded
expenses (from Schedule E) |
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10. |
Total
Excluded Expenses |
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Part E: Net Income |
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1. |
Net income as reported on the
books of the agency |
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Part F: Equity |
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1. |
Total equity as reported on
balance sheet of the agency |
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Part G: Number of Employees |
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1. |
Total number of employees |
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[13.14.16.9 NMAC – Rp, 13.14.16.9 NMAC, 1/1/2021]
13.14.16.10 SCHEDULE B - PREMIUMS BY INSURER:
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NEW
MEXICO TITLE INSURANCE AGENCY STATISTICAL REPORT SCHEDULE
B - PREMIUMS BY INSURER For
the Calendar Year Ending December 31, 20___. |
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Name of each insurer for which
this agency charged premiums |
Title premiums written by this agency |
Title premiums remitted or owed by this agency to
insurers |
Title premiums retained by this agency |
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Total |
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(Carry total forward to Schedule
A, line A-1) |
(Carry total forward to Schedule
A, line A-2) |
(Carry total forward to Schedule
A, line A-3) |
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Percentage of premiums
remitted: 0.0% |
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[13.14.16.10 NMAC – Rp, 13.14.16.10 NMAC, 1/1/2021]
13.14.16.11 SCHEDULE C - IDENTIFICATION OF OTHER
INCOME
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NEW
MEXICO TITLE INSURANCE AGENCY STATISTICAL REPORT SCHEDULE
C - IDENTIFICATION OF OTHER INCOME For the Calendar Year Ending December 31, 20___. |
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Description of Income Item |
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A. |
Closing fees |
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B. |
Abstracting
and title report income |
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C. |
Recording
fees |
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D. |
Copy fees |
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E. |
Inspection
fees |
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F. |
Interest
income |
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G. |
Charges
for unusual complexity/extra chain or abstract retirement |
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Itemization of All Other Income |
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H. |
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I. |
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J. |
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K. |
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L. |
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M. |
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N. |
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O. |
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P. |
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Q. |
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R. |
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S. |
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Total Other Income(Carry forward to Schedule A, line
A-4) |
0 |
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[13.14.16.11 NMAC – Rp, 13.14.16.11 NMAC, 1/1/2021]
13.14.16.12 SCHEDULE D - LOSSES AND LOSS
ADJUSTMENT EXPENSES:
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NEW
MEXICO TITLE INSURANCE AGENCY STATISTICAL REPORT SCHEDULE
D - LOSSES AND LOSS ADJUSTMENT EXPENSES For the Calendar Year Ending December 31, 20___. |
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Description of Expense Item |
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1. |
Closing
Losses |
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2. |
Agency
Errors |
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3. |
Unfair Trade
Practices |
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4. |
Loss
Adjustment Expenses |
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5. |
Insurance
Premiums (Itemize) |
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Total (Carry forward to Schedule A, line B-17) |
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[13.14.16.12 NMAC – Rp, 13.14.16.12 NMAC, 1/1/2021]
13.14.16.13 SCHEDULE E - IDENTIFICATION OF OTHER
EXPENSES:
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NEW
MEXICO TITLE INSURANCE AGENCY STATISTICAL REPORT SCHEDULE
E - IDENTIFICATION OF OTHER EXPENSES For
the Calendar Year Ending December 31, 20___. |
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Part A - Deductible Expenses |
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1. |
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2. |
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3. |
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4. |
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5. |
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6. |
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7. |
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8. |
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9. |
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10. |
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11. |
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12. |
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13. |
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14. |
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15. |
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16. |
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17. |
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18. |
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19. |
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20. |
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Total (Carry
forward to Schedule A, line B-20) |
0 |
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Part B - Excluded Expenses |
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1. |
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2. |
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3. |
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4. |
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5. |
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6. |
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7. |
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8. |
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9. |
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10. |
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11. |
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12. |
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13. |
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14. |
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15. |
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16. |
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17. |
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18. |
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19. |
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20. |
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Total
(Carry forward to Schedule A, line D-9) |
0 |
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[13.14.16.13 NMAC – Rp, 13.14.16.13 NMAC, 1/1/2021]
13.14.16.14 [RESERVED]
[13.14.16.14
NMAC - Rp, 13.14.16.14 NMAC, 7/1/2006; Repealed, 09/15/2010]
13.14.16.15 SCHEDULE F - INCOME OR EXPENSE
ALLOCATION FROM OTHER AFFILIATES:
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NEW
MEXICO TITLE INSURANCE AGENCY STATISTICAL REPORT SCHEDULE
F - INCOME OR EXPENSE ALLOCATION FROM OTHER AFFILIATES For
the Calendar Year Ending December 31, 20___. |
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1 |
2 |
3 |
4 |
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Name
and Address of Affiliate |
Relation
to Your Agency |
Amount |
Description
Code |
Reported
Elsewhere in this Report? |
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Total |
0 |
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Description |
Code |
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Income |
I |
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Expense Allocation |
E |
[13.14.16.15 NMAC – Rp, 13.14.16.15 NMAC, 1/1/2021]
13.14.16.16 SCHEDULE G - PREMIUMS BY COUNTY:
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NEW
MEXICO TITLE INSURANCE AGENCY STATISTICAL REPORT SCHEDULE
G - PREMIUMS BY COUNTY For
the Calendar Year Ending December 31, 20___. |
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COUNTY |
TITLE
PREMIUMS WRITTEN |
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Bernalillo |
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Catron |
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Chaves |
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Cibola |
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Colfax |
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Curry |
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De Baca |
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Eddy |
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Grant |
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Guadalupe |
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Harding |
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Hidalgo |
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Lea |
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Lincoln |
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Los Alamos |
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Luna |
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McKinley |
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Mora |
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Otero |
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Quay |
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Rio Arriba |
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Roosevelt |
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San Juan |
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San Miguel |
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Sandoval |
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Santa Fe |
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Sierra |
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Socorro |
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Taos |
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Torrance |
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Union |
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Valencia |
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TOTAL |
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Crosscheck with Schedule B |
0 |
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Difference |
0 |
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Explanation for Difference (if
any) |
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[13.14.16.16 NMAC – Rp, 13.14.16.16 NMAC, 1/1/2021]
13.14.16.17 SCHEDULE H - IDENTIFICATION OF OWNERS
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NEW
MEXICO TITLE INSURANCE AGENCY STATISTICAL REPORT SCHEDULE
H - IDENTIFICATION OF OWNERS For
the Calendar Year Ending December 31, 20___. |
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1 |
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3 |
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Name
of Each Individual or Entity Owner |
Percentage
of Agency Owned |
Description
Code (see below) |
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TOTAL |
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Description |
Code |
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Attorney |
A |
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Real Estate Agent |
REA |
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Real Estate Developer |
RED |
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Lending institution |
L |
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Underwriter |
UW |
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None of the above |
NA |
[13.14.16.17 NMAC – Rp, 13.14.16.17 NMAC, 1/1/2021]
HISTORY OF 13.14.16
NMAC:
Pre-NMAC History.
ID 74-1, Article 10,
Chapter 58, Rule 2, Regulations for Filing Title Insurance Forms and Rates,
filed 3/7/1974.
SCC-85-6, Insurance
Department Regulation 30 - Title Insurance, filed 9/6/1985.
SCC-86-1, Insurance
Department Regulation 30 - Title Insurance, filed 5/9/1986.
History of Repealed
Material.
13.14.16
NMAC, Agent’s Experience Report (filed 4/28/2000) repealed 7/1/2005.
13.14.16
NMAC, Agent’s Experience Report (filed 6/01/2005) repealed 7/1/2006.
13.14.16
NMAC- Agent’s Statistical Report, filed 7/1/2006 was repealed and replaced by
13.14.16 NMAC – Agency’s Statistical Report, effective 1/1/2021.
Other History.
That
applicable portion of SCC-86-1, Insurance Department Regulation 30 - Title
Insurance (filed 5/9/1986) was replaced by 13 NMAC 14.3 Subpart C, Agent’s
Experience Report, effective 11/01/1996.
13
NMAC 14.3 Subpart C, Agent’s Experience Report (filed 10/2/1996) was renumbered
and replaced by 13.14.16 NMAC, Agent’s Experience Report, effective 5/15/2000.
13.14.16
NMAC, Agent’s Experience Report (filed 4/28/2000); replaced by 13.14.16 NMAC,
Agent’s Statistical Report, effective 7/1/2005.
13.14.16
NMAC, Agent’s Experience Report (filed 6/01/2005); replaced by 13.14.16 NMAC,
Agent’s Statistical Report, effective 7/1/2006.
13.14.16
NMAC, Agent’s Experience Report, effective 7/1/2006, amended effective, 3/1/2016.