The title insurance rates and premiums promulgated by the superintendent shall include amounts sufficient to recoup within three years after assessment a sum equal to the amounts paid to the association by the member insurers, less amounts returned to the member insurers by the association. Rates shall not be deemed excessive because they contain an amount reasonably calculated to recoup assessments paid by the member insurers. The entire amount of any such recoupment shall be passed through to insurers.
History: Laws 1999, ch. 60, § 15.
Effective dates. — Laws 1999, ch. 60 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 18, 1999, 90 days after adjournment of the legislature.
Structure New Mexico Statutes
Article 30A - Title Insurance Guaranty
Section 59A-30A-1 - Short title.
Section 59A-30A-4 - Definitions.
Section 59A-30A-5 - Organization of association.
Section 59A-30A-6 - Board of directors.
Section 59A-30A-7 - Duties and powers of the association.
Section 59A-30A-8 - Plan of operation.
Section 59A-30A-9 - Duties and powers of superintendent.
Section 59A-30A-10 - Effect of paid claims.
Section 59A-30A-11 - Nonduplication of recovery.
Section 59A-30A-12 - Prevention of insolvencies.
Section 59A-30A-13 - Examination of association; financial reports.
Section 59A-30A-15 - Recognition of assessment in rates.
Section 59A-30A-16 - Immunity; confidentiality.
Section 59A-30A-17 - Stay of proceedings; reopening of default judgments.