TIRBOP Manual updated 4-1-06, General Rules

This is the only change to General Rules. A new rule has been added:

2.10

(a) When a Commitment has been issued by an Insurer or Agent that is dated prior to April 1, 2007 ("Effective Date"), any policy or endorsement forms available to be issued to an Insured immediately before the Effective Date may be issued at the Insured's request. The Charge for the issuance of a policy or endorsement form no longer available as of the Effective Date shall be the Charge as set forth in the Manual as of the Effective Date, unless the endorsement form is not available as of the Effective Date, in which event the Charge shall be the amount last set forth in the Manual immediately prior to the Effective Date.

(b) Any policy issued prior to the Effective Date may be endorsed by an Insurer or Agent at the request of the Insured with an endorsement available as of the Effective Date or, if no longer available as of the Effective Date, with an endorsement available immediately prior to the Effective Date. The Charge for the issuance of an endorsement shall be as set forth in the Manual as of the Effective Date, unless said endorsement is not available as of the Effective Date, in which event the Charge shall be the amount last set forth in the Manual immediately prior to the Effective Date.

Holy Moly, taking a break to watch 24. Will be back to try to rephrase this and make it a little easier to understand.

OK, so we can issue new or old endorsements to old ALTA policies, but if the endorsement is one available after the Effective Date, we have to charge the new fee. Did I get that right?