Bulletin: NM000007

Dear Associates:

The Superintendent adopted new endorsements and other matters pursuant to the 2000 Annual Hearing.

Agent's Premium Retention
The basic agent retention was changed from 80% to 78%, with the graduated commission rate otherwise remaining the same.

Premium
The premium charged to the public was not changed.

Manufactured Housing Unit Endorsement (Available through the references section at the end of this bulletin)
The Manufactured Housing Unit Endorsement (NM 16) was changed to be the same as the ALTA Manufactured Housing Endorsement (ALTA 7).

Named Insured Endorsement (Available through the references section at the end of this bulletin)
The Named Insured Endorsement (NM 55) was adopted. It must be attached to all new Owner's Policies and Leasehold Owner's Policies for no additional charge. It shall be provided on any previously issued Owner's or Leasehold Owner's Policy upon request for an additional premium of $25.

Leasehold Policies and Endorsements
The Leasehold Policies and Endorsements were amended. You must add the following in Schedule B if you insure a leasehold:

A. To Schedule B of Leasehold Owner's Policy (NM 4), add: "Section 14 of the Conditions and Stipulations of this Policy is hereby deleted."

B. To Schedule B of Leasehold Loan Policy (NM 5), add: "Section 13 of the Conditions and Stipulations of this Policy is hereby deleted."

C. To Schedule B of Owner's Policy (NM 1) with Leasehold Owner's Endorsement (NM 20), add: "Section 13.1 of the Conditions and Stipulations of this Policy is hereby deleted."

D. To Schedule B of Loan Policy (NM 2) with Leasehold Loan Policy Endorsement (NM 21), add: "Section 12.1 of the Conditions and Stipulations of this Policy is hereby deleted."

Effective Date
All changes are effective August 1, 2001

Stewart's Forms and Information Department will provide to you upon request the amended Manufactured Housing Endorsement (NM 16) and the Named Insured Endorsement (NM 55).