New Mexico Register / Volume XXXIV, Issue 10 / May 31, 2023
NOTICE OF
PROPOSED RULEMAKING
NOTICE IS HEREBY GIVEN that the Superintendent of
Insurance (“OSI” or “Superintendent”) will hold a public hearing regarding amendments to THE NEW MEXICO TITLE INSURANCE
RULES, TITLE 13, CHAPTER 14 NMAC, TO ADOPT MODERN TITLE INSURANCE FORMS. This hearing will commence
on June 30, 2023, at 9:30 A.M. MST.
PURPOSE OF THE PROPOSED
RULE: The purpose of this
rulemaking is to promulgate forms and endorsements in accordance with the New
Mexico Title Insurance Law, Chapter 59A, Article 30, New Mexico Statutes
Annotated (“NMSA”) 1978. “No title
insurer or title insurance agent shall use any form of title insurance policy
other than the uniform forms promulgated by the superintendent under the New
Mexico Title Insurance Law.” Section 59A-30-5 NMSA 1978 (1985).
This
rulemaking will involve amendments to Parts 1, 8, and 18 of the Title Insurance
Rules (New Mexico Administrative Code, Title 13, Chapter 14), and it will
involve consideration of the title insurance forms published by the American
Land Title Association (ALTA), with certain changes thereto, as the title
insurance forms to be promulgated by the Superintendent.
STATUTORY AUTHORITY: Section 59A-30-5 NMSA 1978 (1985).
This
hearing will be held in-person at:
Office of
Superintendent of Insurance
1120 Paseo de
Peralta, 4th Floor Hearing Room
Santa Fe,
NM 87501
The Superintendent
designates Alfred Walker 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 “Rulemaking and Ratemaking”
newsletter at: http://newsletter.osi.state.nm.us/.
Copies of the Notice of
Proposed Rulemaking and proposed new rules are available by electronic download
from the OSI eDocket https://edocket.osi.state.nm.us/case-view/5852 or by requesting a copy by
calling (505) 490-7103.
Written comments will be
accepted through 4:00 p.m. on June 30, 2023.
Responses to written comments or oral comments will be accepted through
4:00 p.m. on July 10, 2023. All comments
shall be filed electronically through the OSI eDocket https://edocket.osi.state.nm.us/case-view/5852
or mailed to:
OSI Records and Docketing
NM Office of
Superintendent of Insurance
P.O. Box 1689, Santa Fe, NM 87504-1689
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. The Superintendent will
consider all oral comments and will review all timely submitted written
comments and responses. For help
submitting a filing, please contact osi-docketfiling@state.nm.us. The below
docket number must be indicated on filed comments.
IN THE MATTER OF
AMENDMENTS TO THE NEW MEXICO TITLE INSURANCE RULES, TITLE 13, CHAPTER 14 NMAC,
TO ADOPT MODERN TITLE INSURANCE FORMS
SPECIAL NEEDS: Any person with a
disability requiring special assistance to participate in the hearing should
contact Louella Pacheco at (505) 490-7103 no later than ten (10) business days
prior to the hearing.
DONE AND ORDERED this May
31, 2023.
/S/ JENNIFER A. CATECHIS
SUPERINTENDENT OF INSURANCE