Since reading this post last Thursday, NALTEA has been trying to find out as much information as possible regarding this bill. It has taken some time but this is the information that we have received. Some of this is repetitious, so please bare with me.
!) House Bill #2659 was initiated by the Kansas Land Title Association in response to vendor management companies and other out of state companies coming into Kansas & writing title insurance.
2) The Department of Insurance in the State of Kansas ONLY deals with licensing Title Agencies. There is a test involved & the Agency would have to be affiliated with a Title Underwriter in order to write title insurance. This Department does NOT license Abstractors
3) The Kansas Board of Astractors is responsible for licensing abstractors. I spoke with this office and this is the information I was given:
a. Abstractors in Kansas have been required to be licensed for many many years. (In the past this was probably not much of an issue due to the fact that there were not that many independent abstractors .
b. In order to become a licensed abstractor in Kansas you must take a 4 part exam. This exam generally takes 6 to 8 hours. It is given twice a year (next test is March 2, 2007) You will have to fill out an application & it will cost $70.00. If you do not pass the first time, you can retest just on the portion that you failed & that will cost you $40.00. But you will not be able to retest until the next testing period. (Which will probably be Sept of 2007).
c. To receive an application you need to call 620-544-2311. The person you need to speak to is Glen McQueen or Patricia in his office. T (They were very helpful)
d. The is study material available though the Kansas Land Title Association. "Evidencing Kansas Land Title" You can contact Linda Lee Voss. I don't have a number for her but their website is http://www.klta.org/.
I hope that this is helpful. I know that it is not the best news, but it is better then we first feared. You can be licensed without an agency but the testing is only done twice a year. Maybe we should be directing our efforts to have testing done 4 times a year. Give me your thoughts. If I receive any more information I will pass along immediately.
Wanda Steudel
President / NALTEA
to post a reply:
login - or -
register