§431:20-120 - Schedules of premiums and charges.
§431:20-120 Schedules of premiums and charges. (a) Every title insurer shall adopt, print, and make available to the public schedules of its currently effective premiums and charges.
(b) The schedules shall:
(1) Be printed in type not smaller than ten point;
(2) Be dated to show the date the premiums and charges become effective;
(3) Be kept available to the public and prominently displayed in a public place in each of the offices of the insurer, the controlled escrow company, and the underwritten title company in the particular county to which they relate;
(4) Set forth the total premium and charge for each type of title insurance policy or service issued or provided by the title insurer in the given amount of coverage, by a statement of the charge per unit of the amount of coverage, or a combination of the two; and
(5) Include the charge made by any underwritten title company for the search, certificate, chain or abstract of title, lien search, or any continuation of any of the above, upon the basis of which such title policy is issued.
(c) The schedule may:
(1) Include a statement that additional charges are made when unusual conditions of title are encountered or when special or unusual risks are insured against and that additional charges are made for special services rendered in connection with the issuance of a title policy; and
(2) Provide different fees or charges for title policies covering property in different counties or separate schedules may be adopted for title policies covering property in different counties.
(d) All or any part of any schedule may be changed or amended at any time or from time to time. Each change or amendment shall be printed and dated to show the effective date of the change or amendment. No change or amendment shall become effective until at least five days after it has been displayed in the offices of the title insurer in the same manner as provided for the display of schedules. No change or amendment increasing fees or charges shall apply to title policies ordered prior to the effective date of such change or amendment.
(e) Each title insurer, controlled escrow company, and underwritten title company shall keep a complete file of its schedules of premiums and charges and of all changes and amendments thereto until at least five years after they shall have ceased to be in effect, and such file shall be available for inspection by the commissioner. [L 1987, c 347, pt of §2]