Well Kevin,
I was answering a question about certification, not about this LLC you keep talking about.
Naltea is an organization for abstractors and examiners, hence National Association of Land Title Examiners and Abstractors. The certification process is for abstractors and examiners. Others are welcome to join Naltea under the associate membership if they choose. I can't remember if there is a different membership fee for that type of membership but If I remember correctly, the associate membership is a non voting one too. Jay, is that correct?
You and I know that SOT and NALTEA are not all the same people. But Naltea was created by SOT people by doing just what you are doing now with the LLC thing, talking about it and coming up with a good plan. But Naltea members are abstractors and SOT is for anyone in the industry, including lenders too. A Naltea membership for corporation or independent person must generate 70% of their business by doing actual search abstract work.
The point of their certification was to create a national licensing for abstractors since only 7 of the 50 states have licensing for abstractors. And yes, we will require an an abstractor requesting certification to be licensed in their state if their state requires it. The problem is that some states do not have very strict standards when it comes to their licensing process and we want to improve upon that. Hence a minimum experience level for our certification, e&o coverage, verifiable references and so forth.
I am not on either side of this whole LLC idea. I am just sitting back and listening to both sides in what ideas there are for it's creation. I was mearly answering questions about the certification.
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