AGENDA ITEM 201212 PAGE 1 SUBMITTED BY THOMAS A

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The Texas Land Title Association (“TLTA”) petitions the Commissioner of Insurance to amend the Endorsement Instructions to read as follows:

Agenda Item: 2012-12- Page 1


Submitted by: Thomas A. Rutledge


On Behalf of: Texas Land Title Association


Address: 901 Congress Avenue

Austin, Texas 78701


Telephone: 512-476-6955


The Texas Land Title Association (“TLTA”) petitions the Commissioner of Insurance to amend Rate Rule R-17 to read as follows:


R-17. Policy Forms for Use by United States Government - Certificate of Title (U.S.A.), Certificate of Title for Easement (U.S.A.) and Policy of Title Insurance (U.S.A.) may be issued to the United States of America showing the condition of title to a tract of land prior to the acquisition of title to said land by the U.S.A. in an amount to be designated by the U.S.A. The premium for said policies shall be at the Basic Rate.


Upon acquisition of title by the U.S.A., a final Certificate of Title, or an Endorsement to the Owner Owner’s Policy, may be issued to the U.S.A., and the premium therefor shall be at the Basic Rate, and subject to the provisions of Rule R-3 Procedural Rule P-66, less the premium which was paid for the Certificate of Title or Policy of Title Insurance, prior to the acquisition by the U.S.A.


Policy of Title Insurance (U.S.A.), Form T-11, may be issued in favor of the United States Postal Service upon its acquisition of title to properties with the addition of the following paragraph 9 to the conditions and stipulations:


“9. In the event that the interests of the United States Postal Service with respect to the land referred to in this policy are not represented by the Attorney General of the United States at the time any election, notice, request, permission, cooperation, assistance, or statement is required or permitted by these conditions and stipulations, then such election, notice, request, permission, cooperation, assistance or statement, as so required or permitted, and otherwise conforming hereto, shall be given or furnished by or to the United States Postal Service.”


Such policy forms shall also have stricken therefrom in all places the name “United States of America” and have substituted in lieu thereof the name “United States Postal Service.”




JUSTIFICATION


This agenda item conforms the language to other rules and forms in the Basic Manual.



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