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Title insurance reform on hold in New Mexico

Gov. Richardson says legislature can't tackle issue in 30 days

New Mexico lawmakers will have to wait a year before tinkering with the state's uniform title insurance rate regulations, with Gov. Bill Richardson saying the issue is too complex for legislators to tackle in their lone 30-day meeting session this year. New Mexico's unpaid "citizen-legislators" meet for just 30 days in even numbered years, and can debate only budget and tax issues or legislation the governor places on the agenda. A spokesman for the governor said Richardson is not opposed to title insurance reform, but that his primary focus for the abbreviated 2008 legislative session is health insurance. The legislature's 30-day meeting "is simply not enough time for a full and fair hearing on the issue," which should be thoroughly studied to ensure consumers don't end up paying higher rates, Richardson's spokesman, Allan Oliver, told the Associated Press in a story published in the Albuquerque Tribune. The New Mexico Public Regulation Commission, the state attorney ge...

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