feb 2011 newsletter
Document Sample
SPRING C ONVENTION R EGISTRA-
TION M ATERIALS………………...4
REPORT OF ELECTIONS C OMMIT-
TEE…………………………...…..3
TitleNotes
PLTA M EMBERSHIP RENEWAL
INFORMATION………………….....6
Maintaining professional standards and ethics in the Title Insurance Industry in
South Carolina. Providing information and education to consumers and to maintain-
ing liaisons with users of the products and services provided by our members.
Palmetto Land Title Association
Annual Spring Convention
Submitted by Teri Callen Stomski
The weather we've had recently ing, how to successfully close a
could not be a more perfect re- short-sale, and what e-recording
minder that PLTA's 2011 Annual means to you, RESPA, Regs and
Spring Convention is only a few the new Consumer Finance Protec-
weeks away. tion Bureau (CFPB) and other na-
tional hot-button issues like the
In addition to the great weather, NAIC Data Call and Private Trans-
there will be great speakers and fer Fees that are impacting our
topics on March 18th at the Co- State. Top that off with fantastic
lumbia Metropolitan Convention raffle prizes to benefit our scholar-
Center. And at only $175 for ships, a great lunch at the Conven-
members ($225 for non-members) tion Center and a March Madness
for 6.5 CLE hours (1.0 LEPR), Cocktail Hour immediately follow-
every South Carolina real estate ing at the Wild Hare Sports Cafe
practitioner should be there to get and you have one great Friday.
the most comprehensive and up-
to-date real estate CLE bargain of In addition to putting on top-
the year! quality CLE's, PLTA has been hard
at work fighting for our members
Some of the topics to be covered when issues arise that threaten the
this year include dealing with fore- closing and insuring of real estate Palmetto Land Title Association
closures on property you are insur- in South Carolina. When Senate Post Office Box 11372
Columbia, SC 29211
(Continued on page 2)
Phone/Fax (803)892-5582
www.scplta.org
Page 2
(Continued from page 1)
Bill 234 was pre-filed by Senator Cleary (Georgetown), PLTA saw that the "transfer on death deed" suggested by this
legislation would be a title searcher's nightmare, since the grantor can give as many of these TOD deeds as they wish
and only the "last signed" deed would be valid. Imagine trying to certify title where the true valid deed doesn't even
have to be recorded! PLTA was asked to speak at the February meeting of the Probate Section of the SC Bar and has
also been in discussions with the Real Estate Section about the unintended consequences such a deed might have on
title. Further, one of our very own Board members, Clint Yarborough, testified at the initial Senate Hearing. We also
made available the "Uniform Act" that has been the model for other states in implementing the TOD deed and the
pitfalls of the Uniform Act since it does not address state-specific issues such as indestructible tenants in common
with rights of survivorship deeds and recording in a race-notice state. PLTA is also seeking and providing comments
to Katherine Wells, Senate Staff Attorney, by the March 7th deadline and we invite you to join us at the upcoming
hearing on the Bill.
Additionally troubling is the draft legislation that began circulating after Matrix and Coffey, which would make mort-
gages valid even if closed by someone other than a SC licensed attorney. PLTA recognized that this lack of any UPL
deterrent might promote the use of settlement shop or financial institution closings in SC. PLTA immediately got in-
volved and continues to have a "seat at the table" with the drafters of this proposed legislation to prevent a potential
slippery slope to non-attorney closings, which would be detrimental to consumers and real estate firms alike.
This legislation and more along with an update on case law affecting real estate will also be covered at the 2011 An-
nual Spring Convention.
If you are already a member, you know that PLTA has more benefits than ever, tailored especially for the real estate
practitioner: CLE's, News e-blasts, Legislative Alerts and Quarterly Newsletters, to name a few.
If you are not yet a member now is a GREAT time to join to get the "member rate" to the Convention AND with our
"Welcome-Welcome Back" membership campaign, you can get $75 off the already low annual dues. More informa-
tion on Membership and the Convention is inside, so be sure to take a good look.
See you on March 18th!
J. Lee McDonald Award
The J. Lee McDonald Award is awarded by the Board of Directors to a person who has made outstanding contri-
butions to the Palmetto Land Title Association. Its intent is to recognize individuals who have gone above and be-
yond the call of duty in their service to the association. The award is named in memory of J. Lee McDonald of
Pioneer National Title Insurance Co. (TICOR) who died in 1980. The PLTA Awards committee is currently ac-
cepting nominations for the 2011 J. Lee McDonald Award. The deadline for nominations is March 4, 2011. You
may submit your nominations to:
Awards Committee
Post Office Box 11372
Columbia, SC 29211
or by fax to (803)892-5582.
33rd Annual Spring Convention
Palmetto Land Title Association
March 18, 2011
Columbia metropolitan
convention center
1101 Lincoln street
Columbia, sc 20201
PLTA’s Annual Convention focuses on colleagues coming
together to share information and increase their knowledge of
the land title industry.
Register Now
Friday, March 18th
PLTA Annual Meeting & Seminar CONVENTION RATES:
8:00 am to 5:00 pm
$175 PLTA Member Registrant– Includes admission to
Lunch will be provided
Seminar on
March 18th (6.5 hours of CLE Credit*)
Our Seminar includes 6.5 CLE* Hours:
•Loss Mitigation & Short Sales
Cathy Olivetti, Esquire Lodging Detail:
Law Offices of Catherine West Olivetti, LLC
•Case Law & Legislative Update Clarion Hotel Downtown
1615 Gervais Street
Benjamin A. Dun, II ,Esquire
Columbia, SC 29201
Holler, Dennis, Corbett, Ormond, Plante & Garner (803)771-8711
Graydon V. Olive, III, Esquire
Investors Title Insurance Company Columbia Marriott Hotel
•Data Call, Transfer Fees and ALTA Survey 1200 Hampton Street
Columbia, C 29201
Chris Abbinante
American Land Title Association Hampton Inn Historic District
•Ethics 822 Gervais Street
Brian C. Bonner, Esquire Columbia, SC 29201
(803)231-2000
Nexsen Pruet, LLC
•E-Recording Update Hilton Columbia Center
Cynthia D. Blair, Esquire 924 Senate Street
Rogers Townsend & Thomas, PC Columbia, SC 29201
(803)744-7800
•So There’s a Foreclosure in My Chain of Title...What do I do?
Jennifer W. Rubin, Esquire
Rogers Townsend & Thomas, PC
•Dodd-Frank/RESPA Regulatory Update For More Information Contact:
Kim Burkett, Executive Secretary
Teri C. Stomski Esquire Palmetto Land Title Association
Investors Title Insurance Company Post Office Box 11372
Columbia, South Carolina 29211
•Dodd-Frank/RESPA Panel Discussion Telephone/Fax: 803-892-5582
Email: plta@pbtcomm.net
*CLE credit pending approval from CLE Commission
Page 5
Mary G. Webster Scholarship
Did you know that the PLTA awards two $1000 scholarships annually? The Mary G. Webster Scholarship is
open to any rising Sophomore, Junior or Senior attending any major 4-year university or college in the state
of South Carolina. The applicant must be pursing an education in a business-related field. Our application
deadline of March 15th is fast approaching! Please visit or website www.scplta.org for more information on
the Mary G. Webster Scholarship today!.
Report of Election Committee
Pursuant to Article V of the By-Laws, the Election Committee is presenting this report of nomi-
nees concerning elections of officers and directors to the membership.
President-Elect Martha McConnell
Secretary Derek M. Gillis
Directors Gregory S. Brickle
Jennifer W. Rubin
Jay Mosley
Article V, Section 3 of the By-Laws provides that other nominations may be made. Such nomi-
nations must be made in writing and signed by at least three (3) Regular Member Registered
Representatives and received by the Election Committee by March 15, 2010
If you wish to make further nominations, they should be mailed to:
PLTA- Election Committee
P.O. Box 11372
Columbia, SC 29211
Page 6
Date: ________________________
MEMBERSHIP RECORD
Membership Name: ________________________________________________________________________
Mailing Address: _________________________________________________________________________
_________________________________________________________________________
Registered Representative: __________________________________________________________________
Alternate Representative: ___________________________________________________________________
Additional Contact Person:__________________________________________________________________
Phone #:___________________ Fax#: ____________________ E-mail:_____________________________
Additional Address(s)*: _____________________________________________________________________
________________________________________________________________________________________
________________________________________________________________________________________
PLEASE MARK THE APPROPRIATE BOX UNDER THE APPLICATION CATEGORY:
REGULAR MEMBER
[ ] Please see back of form for appropriate category $_____________________________
ASSOCIATE MEMBER
[ ] Please back of form for appropriate category $_____________________________
[ ] *Please add $25 if you prefer to receive hard copies of mailings $_____________________________
All Association correspondence will be communicated electronically unless noted on this form.
TOTAL AMOUNT ENCLOSED $_____________________________
Please make your check payable to PALMETTO LAND TITLE ASSOCIATION and mail it along with this form
to:
TREASURER
Palmetto Land Title Association
Post Office Box 11372
Columbia, SC 29211
If you should have any questions, please contact Kim Burkett, Executive Secretary, by telephone or fax at (803)892-5582
Page 7
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PLTA MINUTES OF MEETING
DATE …………………… 14 DECEMBER 2010 @ 12:00 P.M.
LOCATION …………….. Office of Rogers, Townsend, & Thomas, Columbia, SC
PRESENT ………………. Clint Yarborough / Derek Gillis / Robert Clawson /
Terri Callen Stomski / Brian Bonner / Kim Burkett
Called to order by President Elect (Terri Callen Stomski) - quorum was present.
===============================================================
Minutes of Past Meeting (November 2010) – Unanimously Approved
===============================================================
OFFICERS AND DIRECTORS REPORTS
President –
No Report
Treasurer Report – (AS OF 10 DEC 2010)
- Savings Account = $ 6,788.10
Operating Account = $ 3,739.49
Brokerage Account = $ 15,393.86
Savings Account = $ 2,863.62
Pal/Pac = $ 6,743.34
Directors Reports –
- No Reports
Executive Secretary Report – (Kim Burkett)
Page 11
No Report
===============================================================
COMMITTEE REPORTS
Convention – Terri Callen Stomski (President Elect)
- Continued finalization of plans for Spring Convention for facilities, amenities, and content
By Laws – Derek Gillis
- N/R
Communications and Public Relations – Terri Callen Stomski
The next News Letter is scheduled to go out in January with a focus on the Convention
Education – Cynthia Durham Blair
President Elect will get with Committee to discuss content for Seminar
Possible Topics: Case Law update / Legislative Update / Dodd-Frank / E- Recording
Any member with a possible idea or topic is encouraged to contact the Education Committee
Election – Stephanie Munsey
- No Report
PAL PAC – Stephanie Blanton Munsey
- No Report
Government / Legislative Combined Committee – Graydon Olive
No Report
Membership – Stephanie Blanton Munsey
- No Report
Scholarship – Jennifer Rubin
No Report
===============================================================
OLD AND UNFINISHED BUSINESS –
None
NEW BUSINESS –Discussion was had regarding some proposed legislative changes in light of recent events and Supreme Court Cases.
Proposed Alteration of SC Code Section 15-39-30 to make the 10 year ‘active energy’ period for judgment creditors a statute of repose. –
Favorable Approval by all in attendance Proposed new legislation regarding the effects of the unauthorized practice of law on a mortgage
and on private rights and remedies – Due to the current climate, this causes some concern, but PLTA will take no official position at this
time. An effort will be made to meet with other parts affected by these proposals and better formulate a position.
GOOD AND WELFARE –
No Report
ADJOURNMENT – President Elect
===============================================================
Next Meeting : 11th JANUARY 2011
12:00 p.m. at the Rogers Townsend & Thomas, Columbia, SC
Page 12
PLTA MINUTES OF MEETING
DATE …………………… 18 JANUARY 2011 @ 12:00 P.M.
LOCATION …………….. Office of Rogers, Townsend, & Thomas, Columbia, SC
PRESENT ………………. Ben Dunn / Martha McConnell / Derek Gillis / Teri Callen Stomski / Cynthia Blair / Jennifer
Sarvis / Clint Yarborough / Brian Bonner / Kim Burkett
Called to order by President (Ben Dunn) - quorum was present.
===============================================================
Minutes of Past Meeting (December 2010) – Unanimously Approved
===============================================================
OFFICERS AND DIRECTORS REPORTS
President –
PLTA President met with Bradley Farrar (Deputy Richland County Attorney) regarding the UPL concern in refer-
ence to the ‘Restricted Covenants Affecting Permit Activity’ statement required on Administrative Subdi-
vision Development. Mr. Farrar has indicated that he will look into the matter and get back with Mr.
Dunn regarding its appropriateness.
Treasurer Report – (AS OF : January 17, 2011)
- Savings Account = $ 8,229.01
Directors Reports –
- No Reports
Executive Secretary Report – (Kim Burkett)
No Report
===============================================================
COMMITTEE REPORTS
Convention – Teri Callen Stomski (President Elect)
- Spring Convention, 2011 – Columbia Convention Center
March 18, 2011 – 8:30 to 4:30
Finalizing the food costs for attendees
Looking at a rate structure for members and non-members
By Laws – Derek Gillis
- No Report
Communications and Public Relations – Teri Callen Stomski
Newsletter will go out by the end of the month containing a reminder regarding the upcoming seminar
An e-blast will be sent mid-February as a reminder approximately 30 days prior to the Seminar
Education – Cynthia Durham Blair
Presented a list of the potential speaker and topics for the 2011 Seminar
Loss Mitigation & Short Sales
Caselaw & Legislative Update
ALTA Speaker (Transfer Fees)
Page 13
Ethics Update
E-Recording Update
Foreclosure Pitfalls (HAMP)
Dodd-Frank / RESPA Panel
Should be eligible for 6.25 CLE Hours (including 1 hour of Ethics)
Election – Stephanie Munsey
- Benn to get out the ballots for the new cycle. Up for election are the secretary , President-elect, and two
directors Still serving unexpired terms are Treasurer and three Directors
PAL PAC – Stephanie Blanton Munsey
- No Report
Government / Legislative Combined Committee – Graydon Olive
The topic of ‘Transfer Covenants’ is slated for a sub-committee hearing on Wednesday, January 19, 2011 at
0900.
Membership – Stephanie Blanton Munsey
- No Report
Scholarship – Jennifer Rubin
New Criteria for the Mary G. Webster Scholarship(s)
Rising Junior or Senior
Attending an accredited 4 year SC College or University
Must be a SC Resident
Majoring in : Business, insurance, or law related filed
Overall 3.0 GPA or higher
Must submit complete application, letter of recommendation, and an official transcript
For 2012, efforts will be made to possibly automate the submission of applications through the PLTA web-site to help guard
against incomplete submission and increase cost efficiency. (If able to automate = Possible application deadline of 2-15-2012;
decision by early March, 2012; and Award check cut mid-July 2012.)
===============================================================
OLD AND UNFINISHED BUSINESS –
Teri Callen Stomski and Ben Dunn both were able to attend the December meeting of the SC Bankers Association
concerning the discussion regarding the effect of the Unauthorized Practice of Law on a mortgage and/or on
private rights and remedies. They reported that the process of any future proposed legislation regarding this
issue was on-going and its form is still not finalized. They did voice the concerns of PLTA, and helped ad-
dress the intricate nature of such proposals in the current climate. Every attempt will be made by PLTA to be
available to offer any guidance and input as this process evolves.
NEW BUSINESS –
Approval was granted for Clint Yarborough to purchase the necessary software
needed to allow the PLTA books to be compatible with newer operating
systems.
ADJOURNMENT - President
===============================================================
Next Meeting : 8th FEBRUARY 2011
12:00 p.m. at the Rogers Townsend & Thomas, Columbia, SC
