N.M. Admin. Code § 13.14.3.8

Current through Register Vol. 35, No. 24, December 23, 2024

Section 13.14.3.8 - AGENCY AGREEMENTS

A. All agreements and amendments between title insurers and title insurance agencies or agents shall comply with these rules, and shall be filed with OSI within 30 days of execution. All existing agency agreements shall be amended within 60 days of the effective date of any applicable change to these rules. An amendment may be in the form of an addendum to an existing agreement.

B. An agreement between a title insurance agency or agent and a title insurer shall specify that the title insurance agency or agent has no authority to negotiate or settle policy claims.

6-16-86, 5-1-88; 13.14.3.8 NMAC - Rn, 13 NMAC 14.4.8, 5-15-00, Amended by New Mexico Register, Volume XXVI, Issue 24, December 30, 2015, eff. 3/1/2016, Adopted by New Mexico Register, Volume XXXI, Issue 24, December 29, 2020, eff. 1/1/2021