Title insurance in the United States is indemnity insurance against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens. Title insurance is principally a product developed and sold in the United States as a result of the comparative deficiency of the US land records laws...
Chicago Title Insurance Company
Chicago Title Insurance Company has appointed James G. Hyland to the position of assistant vice president and counsel to its Mineola office. Hyland was formerly chief underwriting counsel to Stewart Title Insurance Company in New York City. COPYRIGHT 2006 Hagedorn Publication COPYRIGHT 2006 Gale Group
Journal Staff Writer An emotionally charged Angela Raposo stood before the court Friday and blamed her addiction to painkillers for her felonious ways. Raposo, in loud halting sobs, told U.S. District Court Judge William E. Smith that dependence on drugs was responsible for her looting more than $1.3 million from company accounts at her title-insurance firm in East Providence.“I’m sorry, but sorry is not good enough,” Raposo said. “I’m a good person. I’m a good mother. I just messed up.”Smith wasn’t satisfied. He felt that Raposo, who had pleaded guilty to wire fraud, was too quick to blame her descent on drugs. He wanted to know why no one in her close-knit family from Riverside didn’t notice her reckless spending on houses, cars, jewelry and vacations.“There was $1.3 million wandering through the family coffers,” Smith said. “Did anybody ask, ‘Where are the cars and homes coming from?’ ”Ralph E. Chiodo, Raposo’s lawyer, said her parents never bothered to ask.…
A bill that requires licensure of individual title insurance agents and bars licensed insurance agents from selling title insurance was approved by the House Wednesday. A floor substitute for House Bill 3176, by Rep. Richard Phillips, R-Warr Acres, also prohibits abstractors and attorneys from acting as a title insurance agent unless licensed to do so. Phillips said insurance commissioner John Crawford interprets current law as providing that only abstractors can sell title insurance, an interpretation that affects about 29 individuals who could offer title insurance under a previous commissioner's interpretation. Currently, Phillips said, real estate closing firms sometimes employ attorneys to countersign title policies, a practice he said frowned upon by Crawford and abstractors. Under the bill, title insurance agents would have to be state residents, obtain a surety bond of not to exceed $50,000, file an annual financial statement with the state insurance commissioner and discl…
Title Insurance Company by John C. MurrayIntroduction
The principal purposes of limited liability company ('LLC") formation are to obtain favorable tax benefits, create and maintain contractual flexibility (including the freedom of members to contract among themselves with respect to financial aspects of the LLC and the management and standards governing the internal affairs of the LLC such as the establishment of classes of members, voting, and procedures for holding meetings or considering matters without a meeting), and shield a member's personal assets from claims of outsiders and other members.
All fifty states, as well as the District of Columbia, have adopted LLC statutes. Wyoming, which enacted the first LLC statute in 1977, did so primarily at the request of the large mining businesses located in the state. Many states have revised and updated their LLC legislation in the past few years. In general, these recently enacted statutory revisions affect the organization …