ALTA Member Presents on Non-Title Recorded Agreements for Personal Services to NAIC

Sylvia Smith Turk, division president for Stewart Title Co., provided a presentation on Non-Title Recorded Agreements for Personal Services (NTRAPS) during the National Association of Insurance Commissioner’s Summer National Meeting on Aug. 14 in Seattle.

Turk, a former member of ALTA's Board of Governors, provided the NAIC’s Title Insurance Task Force background information about NTRAPS, and explained their impact on consumers and title companies. She also shared the model legislative bill ALTA helped develop and legislative activity at the state level.

“The presentation went very well. Eric Dunning (chair of the Title Insurance Task Force) was very gracious and many of the regulators seemed surprised we would take on something like this,” Turk said. “I informed the regulators that we value protecting consumers, and all the curative work title professionals perform helps reduce risk to homeowners.”

States that have passed versions of bills that address NTRAPS include Alabama, Colorado, Florida, Georgia, Idaho, Illinois, Iowa, Maine, Maryland, Nevada, North Dakota, Ohio, Tennessee, Utah and Washington.