The Trusted Adviser September 2009 | Volume 2 - Number 7

Update from ATG Administration

Michael K. Brandt Receives Illinois Land Title Association President's Award

TheIllinois Land Title Association(ILTA) recently honored Michael K. Brandt, ATG Vice President - Claims and Legislation Counsel, as a recipient of its 2009 President's Award.

ILTA President Kirk Sterling presented the award at the organization's annual meeting in July. Founded more than 100 years ago, non-profit ILTA is the state trade association representing title agents, abstractors and underwriters in all 102 Illinois counties.

ILTA's President's Award is a special recognition given to individuals who took on additional work during the year to help the association achieve its goals.

"Mike co-chaired our legislative committee, which bears the enormous burden of reviewing all bills from both the Illinois Senate and the House that could impact the title business in Illinois," explained Kirk Sterling. "Through Mike's efforts along with the rest of the Legislative Committee we were successful in introducing a 'Good Funds' bill that will benefit all title companies doing business in Illinois."

Brandt is both a past president of ILTA and 2005 winner of the organization's President's Award.

Sterling added, "Mike's commitment to continue volunteering his extra time even after serving in the capacity as president of the ILTA shows that he is truly dedicated to our business and to our association."

The Good Funds legislation will provide protection for Illinois title insurance companies with respect to escrow transactions. It requires that all funds over a certain dollar amount originating from a single party to a real estate transaction be wired funds as opposed to personal or cashier's checks, thereby guaranteeing the transfer of funds without delay. It is also a fraud-protection measure. The funds will be unconditionally held in the escrow account for the closing agent to draw upon for disbursement at the appropriate time. Read our article,Good Funds Legislation.






THE TRUSTED ADVISER is published by Attorneys’ Title Guaranty Fund, Inc., P.O. Box 9136, Champaign, IL 61826-9136. Inquiries may be made directly to Mary Beth McCarthy, Corporate Communications Manager. ATG®, ATG® plus logo, are marks of Attorneys’ Title Guaranty Fund, Inc. and are registered in the U.S. Patent and Trademark Office. The contents of the The Trusted Adviser © Attorneys' Title Guaranty Fund, Inc.

[Last update: 9-23-09]