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1 1 Section 1. NEW SECTION. 543E.1 ABSTRACT TITLE PLANT
1 2 BOARD OF EXAMINERS – CERTIFICATE OF REGISTRATION – FEE
1 3 ESTABLISHED.
1 4 1. An abstract title plant board of examiners is created
1 5 within the professional licensing and regulation division of
1 6 the department of commerce. The board consists of five
1 7 members appointed by the governor, subject to confirmation by
1 8 the senate. Three of the members appointed shall be actively
1 9 engaged in the business of preparing abstracts of title to
1 10 real property, real property title searches, or other similar
1 11 activities related to real property titles. Members of the
1 12 board shall serve three-year staggered terms as designated by
1 13 the governor and appointments to the board are subject to the
1 14 requirements of sections 69.16, 69.16A, and 69.19. Vacancies
1 15 shall be filled by the governor for the duration of the
1 16 unexpired term. Members of the abstract title plant board of
1 17 examiners are entitled to receive a per diem as specified in
1 18 section 7E.6 for each day spent in performance of duties as
1 19 members and shall be reimbursed for all actual and necessary
1 20 expenses incurred in the performance of duties as members.
1 21 Per diem and expenses shall be paid from the fees collected as
1 22 provided in this section.
1 23 2. A person shall not engage in the business of preparing
1 24 abstracts of title to real property, real property title
1 25 searches, or other similar activities related to real property
1 26 titles, unless the person has obtained an annual certificate
1 27 of registration from the abstract title plant board of
1 28 examiners. Upon application, the abstract title plant board
1 29 of examiners shall issue a certificate of registration to an
1 30 applicant who satisfies the requirements established in this
1 31 section and rules adopted pursuant to this section. A
1 32 certificate of registration or a conditional certificate of
1 33 registration issued pursuant to this section shall expire on
1 34 December 31 of each year.
1 35 3. A person engaged in the business of preparing abstracts
2 1 of title to real property, real property title searches, or
2 2 other similar activities related to real property titles in
2 3 this state, and desiring to continue to engage in such acts,
2 4 is required to own or lease, and maintain, an up-to-date
2 5 abstract title plant for each county or that portion of each
2 6 county in which abstracts of title to real property, real
2 7 property title searches, or other similar activities related
2 8 to real property titles are prepared. The abstract title
2 9 plant shall commence not less than forty years prior to the
2 10 effective date of the certification and contain reference to
2 11 applicable public records affecting real property in the
2 12 office of the county recorder within the most recent thirty
2 13 days.
2 14 4. The abstract title plant shall consist of tract indices
2 15 designated to include a geographical area of no more than one
2 16 block in the case of platted real estate, and no more than one
2 17 section in the case of unplatted real estate. The abstract
2 18 title plant shall also include miscellaneous alphabetical name
2 19 indices containing references to instruments, which affect
2 20 real property, that do not specifically describe the real
2 21 property affected.
2 22 5. If an abstract title plant of the county does not exist
2 23 or the owner of an abstract title plant who is registered
2 24 pursuant to this section refuses to provide such plant to
2 25 another person who wishes to apply for a certificate of
2 26 registration, the abstract title plant board of examiners may
2 27 grant a conditional certificate of registration to the
2 28 applicant subject to conditions deemed appropriate by the
2 29 abstract title plant board of examiners. The conditional
2 30 certificate of registration shall be granted for a period of
2 31 one year to permit the person to prepare abstracts of title,
2 32 real property searches, or other similar activities related to
2 33 real property titles, for the time period consistent with the
2 34 abstract title plant owned or leased by the person. A person
2 35 granted a conditional certificate of registration shall comply
3 1 with the provisions of subsection 3 within the one-year period
3 2 or cease the activities for which the certificate was granted.
3 3 6. Notwithstanding the provisions of this section, a
3 4 person continually engaged in the business of preparing
3 5 abstracts of title to real property, real property title
3 6 searches, or other similar activities related to real property
3 7 titles in this state from November 12, 1986, without the
3 8 benefit of an abstract title plant as required in subsection
3 9 3, may continue to engage in such activities, but is required
3 10 to commence and maintain an up-to-date abstract title plant
3 11 from January 1, 2000, and to annually add five previous years
3 12 of records, as defined in subsection 4, until the forty-year
3 13 abstract title plant is completed.
3 14 7. The abstract title plant board of examiners shall
3 15 administer the provisions of this section in accordance with
3 16 rules adopted by the board pursuant to chapter 17A. Rules
3 17 proposed and adopted pursuant to this section shall do all of
3 18 the following:
3 19 a. Establish minimum requirements which must be met by an
3 20 applicant prior to the issuance of a certificate of
3 21 registration or a conditional certificate of registration.
3 22 b. Establish a reasonable fee to be paid by an applicant
3 23 for a certificate of registration or a conditional certificate
3 24 of registration sufficient to pay for the costs of
3 25 administration of this section. Fees collected pursuant to
3 26 this section shall not be deposited in the general fund of the
3 27 state, but shall remain under the control of the professional
3 28 licensing and regulation division and are appropriated to be
3 29 used solely for the administration of this section.
3 30 Sec. 2. Section 546.10, subsection 1, Code 1995, is
3 31 amended by adding the following new paragraph:
3 32 NEW PARAGRAPH. f. The abstract title plant board of
3 33 examiners created pursuant to chapter 543E.
3 34 Sec. 3. INITIAL ABSTRACT TITLE PLANT BOARD OF EXAMINERS
3 35 APPOINTMENTS. The initial members of the abstract title plant
4 1 board of examiners shall be appointed to the following terms:
4 2 1. Two members shall be appointed for a term of three
4 3 years.
4 4 2. Two members shall be appointed for a term of two years.
4 5 3. One member shall be appointed for a term of one year.
4 6 Sec. 4. EFFECTIVE DATE. This Act takes effect January 1,
4 7 2000.
4 8 EXPLANATION
4 9 This bill creates the abstract title plant board of
4 10 examiners within the professional licensing and regulation
4 11 division of the department of commerce. The board is
4 12 authorized to issue a certificate of registration upon the
4 13 application of a person who engages in the business of
4 14 preparing abstracts of title to real property, real property
4 15 title searches, or other similar activities related to real
4 16 property titles. A person who prepares abstracts of title to
4 17 real property, real property title searches, or other forms of
4 18 real property title evidencing is required to own or lease,
4 19 and maintain, an up-to-date abstract title plant for each
4 20 county in which abstracts of title to real property, real
4 21 property title searches, or other similar activities related
4 22 to real property titles are prepared. The abstract title
4 23 plant board of examiners is to adopt rules for the
4 24 administration of this section.
4 25 The bill provides that a person continually engaged in the
4 26 business of preparing abstracts of title to real property,
4 27 real property title searches, or other similar activities
4 28 related to real property titles in this state from November
4 29 12, 1986, without the benefit of an abstract title plant, may
4 30 continue to engage in such activities. A person who has
4 31 engaged without the benefit of an abstract title plant must
4 32 commence and maintain an up-to-date abstract title plant from
4 33 January 1, 2000, and annually add five previous years of
4 34 records, until the 40-year abstract title plant is completed.
4 35 The board is to establish a reasonable fee to be paid by
5 1 applicants for a certificate of registration or conditional
5 2 certificate of registration sufficient to pay for the costs of
5 3 administering the section. The fees are to remain under the
5 4 control of the professional licensing and regulation division
5 5 and are not to be deposited in the general fund.
5 6 The bill takes effect January 1, 2000.
5 7 LSB 4385SV 76
5 8 mj/jw/5
Text: SF02424 Text: SF02426 Text: SF02400 - SF02499 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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