New Mexico Register / Volume XXXIV, Issue 12 / June 27, 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 July 27, 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).

 

TO ATTEND THE HEARING:

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/guest/case-view/5852 or by requesting a copy by calling (505) 490-7103.

 

Written comments will be accepted through 4:00 p.m. on July 27, 2023.  Responses to written comments or oral comments will be accepted through 4:00 p.m. on August 7, 2023.  All comments shall be filed electronically through the OSI eDocket https://edocket.osi.state.nm.us/guest/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.

 

Docket No. 2023-0028

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 June 8, 2023

/S/ JENNIFER A. CATECHIS

SUPERINTENDENT OF INSURANCE