General
ALTA Best Practices
Policy / (Insert name of entity/agency), (hereinafter “____”) is committed to follow ALTA Best Practices.
____ consists of (insert the number of employees, branches, etc. ) staff. The company conducts business in the state of ______.
Procedures / General (Note: Change this form to reflect your office procedures. Review legal, contractual, and statutory requirements and incorporate those requirements in these procedures.)
We are in the process of developing written policies and procedures for all of the Best Practices.
Each pillar of the Best Practices will be developed separately. Each pillar will be complete by (Insert Date). The development will follow the following schedule:
Due Date / Pillar / Objective
Very basic draft of each pillar
1 / Licensing
2 / Escrow Trust Accounting
3 / Privacy and Information Security
4 / Settlement Process
5 / Policy Production, delivery, reporting and premium remittance
6 / Professional Liability Insurance
7 / Resolving Consumer Complaints
This is a work in progress and dates are subject to change.
(You may also complete the Compliance Management Report located on the ALTA website)
(Insert title of position) will draft a policy and procedure which reflects The ______functions including necessary forms, logs and other documents. The goal will be to have internal and automatic checks.
Contact Officer / (Insert title of position, his/her signature and date)
Date Approved / (Insert date approved)
Date of Commencement / (Insert effective date of policy and procedure; date and how it will be announced i.e. staff meeting; and date of training)
Amendment Dates
Date for Next Review / (Insert date for next review)
Pillar 1
Licensing
Best Practice: Establish and maintain current License(s) as required to conduct the business of title insurance and settlement services.
Policy / (Insert name of entity/agency), (hereinafter “______”) shall maintain all mandated licenses and corporate registrations (as applicable) so that it is able to remain in good standing in the state of ______. The _____ consists of (insert the number of staff, branch offices, etc.) staff. The ____ conducts business in the state of ______.
Procedures / Licensing (Note: change this form to reflect your office procedures. Review legal, contractual, and statutory requirements for licensing and incorporate those requirements in these procedures.)
When there is a change to these policies and procedures, there shall be
1. Email notification to staff
2. Review at staff meeting everyone will
a. Receive a copy of new policy and procedure and
b. Sign original policy
3. Training on new procedure as required
All documents are stored electronically at ______
The______maintains active business entity licenses in the state of ______(delete this sentence if you are not a business entity like and LLC or P.A. etc.). The ______employees maintain active title and escrow licenses, attorney, paralegal and notary licenses in the state of ______, as applicable, the only state in which The ______employees practice and perform services.
Business licenses are maintained by (insert title of position) and updated annually. Copy of the same may be obtained on ______website. The website will also be reviewed for any changes in requirements.
Business License
Name / Formation date / Last annual report
Attorneys
Obtain verification of ____ State Authorization to Practice Law and Discipline Record
Attached is a printout of the current completed continuing education courses for each attorney with The ______from the ______Bar website.
Each attorney receives an annual bar dues statement requiring certification of compliance with continuing education requirements. The attorney will review the ______Bar website for their continuing education completed courses. (A printout of the completed courses will be attached to this policy, as required.)
(State rule or reg) Minimum Continuing Legal Education Standards, is reviewed annually for any changes in requirements. A copy is attached.
Paralegals
Attached is a printout of the current completed continuing education courses for each ______registered paralegal with The ______from the ______Bar website.
Each paralegal receives an annual dues statement requiring certification of compliance with continuing education requirements. The ______registered paralegal will review the ______Bar website for their continuing education completed courses. A printout of the completed courses will be attached to this policy, annually.
(______State rules, reg), Continuing Education Generally, is reviewed annually for any changes in requirements. A copy is attached.
Title Agents
Title agents are required to be licensed and to complete continuing education every _____ years pursuant to State code. (Insert title of position) will review the code each year for any changes. A copy of this section is attached.
Confirm active Insurance Producer License on state- Sircon website
Name / License # / Expiration date
Each title agent/escrow officer is required to provide a printout of completed continuing education credits annually to ensure compliance. A copy of the same is attached.
Requirements:
____hours of continuing education
Name / # / Due date / Credits Comp.
Notaries
Appointments are for ______years in the state of ______. Below is a list of notaries in the office and the expiration of their appointment as well as verification of the required bond as required.
State rule, reg) is reviewed annually for any changes in requirements.
A copy is attached.
Name / Expiration date / ID # / Bond
ALTA License
The ______is a member or maintains a current license for use of ALTA’s policies. A copy of the same is attached or attach waiver form
(Insert title of position) duties:
1. Review the appropriate statutes, regulations and other official documents to ensure The ______, and all listed persons meet the current requirements for continuing licensure.
2. Review the _____State Bar, National Association of Legal Assistants (NALA), state notary, additional sources as deemed necessary and other business requirements annually.
3. Inform the underwriter of licensed individual, and provide copies of the required active licenses.
**BONUS Feature** EPIC helps keep you compliant
EPIC® (Electronic Policy Issuance Capability) is Attorneys Title Guaranty Fund, Inc.'s web based underwriting and distribution system used for title and settlement production.
EPIC requires the following licensing information in the user account:
Company Producer License and Expiration date
Individual Producer License and Expiration date
All dates are set to warn the user of expiration dates at 60 and 30 days. If any expire, the attorney/agent is unable work in EPIC until the information has been provided to and updated by an Attorneys Title Guaranty Fund employee.
4.Maintain all records of licenses for (insert the number of years required to maintain the records) calendar years.
5. Keep a copy of the appropriate American Land Title Association Policy Forms License or waiver.
Each person’s responsibility:
1. Read and understand this licensing policy and procedures.
2. Maintain the necessary continuing education requirements including any necessary ethics requirements.
3. Sign this policy and procedure as an acknowledgement of the employee’s responsibilities.
Contact Officer / (Insert title of position)
Date Approved / (Insert date approved)
Date of Commencement / (Insert effective date of policy and procedure; date and how it will be announced i.e. staff meeting; and date of training)
Amendment Dates
Date for Next Review / (Insert date for next review)
You can have employees sign the acknowledgement below or sign a separate form attached
By signing below each person does hereby acknowledge that they:
1. Have read the Licensing Policy and Procedures effective (insert effective date of policy and procedure).
2. I understand the Licensing Policy and Procedures effective (insert effective date of policy and procedure).
3. I had ample time and opportunity to ask questions in reference to the Licensing Policy and Procedures effective (insert effective date of policy and procedure) prior to signing below.
4. I have completed training on the Licensing Policy and Procedures effective (insert effective date of policy and procedure).
Acknowledgement / Name / Signature / Date
(Insert name of entity/agency) Page 4 of 6
www.Insert Web address.com
Disclaimer:
These policies and procedures are samples only. Please customize to accurately reflect your own policies and procedures.
(Insert name of entity/agency)
(Insert address)
– or use your logo/letterhead
Employee Acknowledgement - Licensee requirements
I ___ (insert employee name) ______, ___ (insert employee job title) ___
______of the (insert name of entity/agency) do hereby acknowledge that:
1. I have read the Licensing Policy and Procedures effective (insert effective date of policy and procedure).
2. I understand the Licensing Policy and Procedures effective (insert effective date of policy and procedure).
3. I had ample time and opportunity to ask questions in reference to Licensing Policy and Procedures effective (insert effective date of policy and procedure) prior to signing below.
4. I have completed training on Licensing Policy and Procedures effective (insert effective date of policy and procedure).
5. It is my responsibility to maintain my licence with ______(insert which agency oversees the employee’s license (Bar, DFS, etc.))___.
6. It is my responsibility to ensure that I have completed all requirements to maintain my licenses with ______.
7. It is my responsibility to report all Continuing Education Credits to the (insert title of position i.e. Office Manager) when received, by delivering a copy of proof of credits.
8. It is my responsibility to notify the (insert title of position i.e. Office Manager) of any issue between me and my licensing agency within five business days. Failure to do so could result in ______
9. Failure to maintain my license with ______could result in a ______.
______
Name of employee (for signature) Date
(Insert name of entity/agency) Page 4 of 6
www.Insert Web address.com
Disclaimer:
These policies and procedures are samples only. Please customize to accurately reflect your own policies and procedures.