Bulletin: OR2019001

Date:
June 25, 2019
To:
All Oregon Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - OTIRO Endorsement Changes 2019

Dear Associates:

At its June 6, 2019, meeting, the Oregon Division of Financial Regulation approved Two (2) New Endorsement Forms, which are based on the ALTA forms. A summary of changes, as provided by OLTA Chairman Cleve Abbe for ODFR’s review, follows:

(1)   * * * ADDED * * * ALTA Endorsement 18.2-06 (Multiple Tax Parcel Endorsement, Adopted 08-01-2016) (OTIRO Endorsement No. 218.2-06, Ed. 03-29-2019). The endorsement is added to Section 10.218 of the manual. The charge is $75.00. NOTE: The name of ALTA End. 18.1 is changed to “Multiple Tax Parcel - Easements Endorsement.”

(2)   * * * ADDED * * * ALTA Endorsement 23.1-06 (Co-Insurance - Multiple Policies Endorsement, Adopted 08-01-2016, Revised 08-01-2017) (OTIRO Endorsement No. 223.1-06, Ed. 03-29-2019). The endorsement is added to Section 10.223 of the manual. There is no charge for the endorsement.

(3)   * * * CORRECTED * * * ALTA Endorsement 40-06 (Tax Credit - Owner’s Policy Endorsement, Adopted 04-02-2014) (OTIRO Endorsement No. 240-06, Approved 12-09-2015, Corrected Ed. 03-29-2019). NOTE: A signature block for the insured and the tax credit investor was omitted inadvertently in a prior filing. The approval corrects the omission.

The above Endorsements can be found in the 2019 OTIRO Rate Manual (attached), and are effective as of June 6, 2019.

There is no need to wait, and any agents or directs ready to use the updated forms may do so as soon as their systems are updated with the new forms. 

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