TDI Commissioner Signs Rule Order Addressing Basic Manual Agenda Items
On Friday, June 1 TDI announced that Insurance Commissioner Kent Sullivan signed a final order on agenda items that update, correct, and clarify rules and forms in the Basic Manual of Title Insurance.
The order has an "effective date" of June 10, 2018, however the "implementation date" (i.e., the date TDI will begin enforcing the rules) is August 9, 2018.
Many of the rule improvements implemented under this order were submitted by TLTA in 2016 to address "housekeeping items" in the Basic Manual. Avoiding substantive or potentially controversial changes--and instead focusing on a large volume of needed technical corrections--was the goal of this round of rule changes. However, some items--such as 2017-4, which allows for agents to request release of agent's solvency account funds--are new and substantive. Therefore, you will want to review these changes carefully.
What's Changed? A Guide to the Order
TLTA has prepared a guide to help you navigate these changes. The guide categorizes all the Basic Manual changes and provides a brief description of each agenda item and a link to the full text. You can find the original "redline proposed changes" here for comparison.
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