N.M. Admin. Code § 13.14.3.10 - PREMIUM DIVISION WITH TITLE INSURANCE AGENTS - OTHER CHARGES
A.A title insurance
agency or agent or title insurer shall not pay or receive any compensation for
title insurance business or for referral of business, other than the division
of premiums established in a title rate case. A title insurer shall not reward
or otherwise compensate a title insurance agency or agent (or vice versa)
directly or indirectly for business other than as established in a title rate
case.
B. A title insurance agency
or agent shall not be required to contribute or pay any amount to an insurer
for reinsurance or otherwise, and any contractual provision to the contrary
shall be void and unenforceable.
C.
A title insurer may pay on behalf of, or reimburse, a title insurance agency or
agent for expenses associated with instruction, lectures or seminars conducted
by that title insurer for title insurance agencies or agents, if such
instruction, lectures or seminars have been approved in advance by OSI for
continuing education credit. A title insurer conducting such instruction,
lectures or seminars shall submit to the superintendent for approval, in
advance, an agenda and detailed budget for such instruction, lectures or
seminars. Such courses of instruction, lectures or seminars shall be offered by
a title insurer to all of its appointed title insurance agents on a
non-discriminatory basis.
Notes
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