Title insurance policies purchased in association with the acquisition of title to property by the United States in trust for a federally recognized Indian nation, tribe or pueblo located wholly or partially in New Mexico where no monetary consideration is paid, shall be issued subject to the promulgated or filed and approved premium rates for the original issuance of a title insurance policy on the same property for an amount equal to the reduced liability limit for the acquisition provided for by the United States department of justice, unless a higher liability amount is required by the United States.
History: 1978 Comp., § 59A-30-6.2, as enacted by Laws 2009, ch. 80, § 9.
Emergency clause. — Laws 2009, ch. 80, § 17 contained an emergency clause and was approved April 3, 2009.
Severability. — Laws 2009, ch. 80, § 15, effective July 1, 2009, provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected.
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