Bulletin #13: Stamping Fee Change
General Bulletin #13
STAMPING FEE CHANGE
The following change in the Association
stamping fee has been approved by the Association's Board of
Directors as well as the Director of Insurance.
It was necessary for the Association to
request the increase because of continuing declining premium
volume as well as reduced interest income.
For policies that have an effective
date of January 1, 1995 or later, the stamping fee will be
0.3 of 1% (.003).
For purposes of the calculation of the
stamping fee the renewal or extension of an existing policy
is treated as a new policy.
|
Policy Effective Date
|
Stamping Fee Rate
|
|
1/1/1995 & Thereafter
|
.3% or .003
|
|
12/31/1994 - 1/1/1988
|
.1% or .001
|
See the Procedures
Manual for prior fees.
If you have any questions, please
contact the Association.
01-Oct-1994
|
