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Commissioner’s Bulletin # B-153

BULLETIN NO. 153

April 04, 1988


To: ALL TITLE INSURANCE COMPANIES LICENSED TO DO BUSINESS IN THE STATE OF TEXAS, DIRECT OPERATIONS AND AGENTS THEREOF


Re: Exception to Taxes for Current Year

It has come to my attention that some direct operations and agents delete the standard tax exception after escrowing monies estimated to be sufficient to pay current taxes when in fact the current taxes are not paid and the tax roll is not certified. The deletion of the exception under such circumstances is impermissible.

An exception to taxes for the current year must be shown in all promulgated forms having the standard exception relating to taxes unless all taxes have been paid.

Cordially yours,

STATE BOARD OF INSURANCE

/s/ Steve A. Hester, Jr.
Stephen A. Hester, Jr.,
Ass't Director of Title Insurance



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