Tenn. Comp. R. & Regs. 0780-01-12-.02 - FILING OF RATES

(1) On April 1, 1995, every rating organization licensed pursuant to T.C.A., § 56-35-132 shall file with the Commissioner for its members and subscribers in this state, and every title insurance company doing business in this state which is neither a member of nor a subscriber to such a rating organization shall file with the Commissioner, the schedule of rates to be charged by such members, subscribers and/or company in this state; as follows:

(a) An all inclusive rate for use by the company, its title insurance agencies, its title insurance agents and its approved attorneys in insuring title to real property located in those counties with a population of more than 275,000 but not more than 700,000, as reported in the 1980 Census or any subsequent census, in which the company proposes to do business. Such rate need not be the same in all such counties.

(b) An all inclusive rate, except for charges for abstracts of title, for use by the company, its title insurance agencies, its title insurance agents and its approved attorneys in insuring title to real property located in those counties with a population of more than 700,000, as reported in the 1980 Census or any subsequent census, in which the company proposes to do business.

(c) That portion of the rates specified in subsection (1)(a) and (1)(b) of this section, which shall be the risk rate for the purposes of the tax payable under the provisions of T.C.A. §56-35-107, and establishment of the reserves required under T.C.A §§56-35-115 and 56-35-116.

(d) The risk rate to be applied in those counties with a population of less than 275,000, as reported in the 1980 Census or any subsequent census, in which the company proposes to do business as the aggregate consideration for the functions embraced by the definition of "risk rate" in T.C.A. §56-35-102(a)(8), and for the calculation of said taxes and reserves.

(2) On April 1, 1995, every title insurance company which proposes to do business in any county in this state having a population of more than 700,000, as reported in the 1980 Census or any subsequent census, shall file with the Commissioner a schedule of rates for abstracts of title, however denominated, to be made in contemplation of the issuance of each and every commitment, binder or policy of title insurance to be issued by the company, its title insurance agencies or its title insurance agents in insuring title to real property located in such county, whether such abstracts of title be made from a title plant or from the public records.

Notes

Tenn. Comp. R. & Regs. 0780-01-12-.02

Original rule Certified June 10, 1974. Repeal and new rule filed January 20, 1984; effective February 19, 1984. Repeal and new rule filed November 10, 1994; effective January 24, 1995.

Authority: T.C.A. §§ 56-35-107, 56-35-111, 56-35-115, 56-35-116, 56-35-122, 56-35-129 and 56-35-132.