IN Dept. of Insurance Bulletin 135 | NNA
Law

IN Dept. of Insurance Bulletin 135

Notary Law Update: IN Dept. of Insurance Bulletin 135

State: Indiana

Summary:

Indiana Notary Signing Agents now must apply to become a title insurance producer in order to perform loan signings in Indiana.

Signed:  December 06, 2005

Effective:  June 26, 2006

Chapter: N/A

Affects:

Does not affect a statute

Changes:
  1. Requires that any person who conducts a real estate closing on behalf of a title insurance producer or title insurance company in which a title insurance policy is issued or is to be issued must be a licensed insurance producer.
  2. As applicable to Notary Signing Agents, defines “conduct a real estate closing” in pertinent part as an activity to “determine proper execution, acknowledgement and delivery of all conveyances, mortgage documents and other title instruments necessary to consummate a transaction.”
Analysis:

Notary Signing Agents in Indiana now must take an approved 10-hour pre-licensing course through the Indiana Land Title Association and apply to become a title insurance producer in order to conduct home loan signings. In addition to these licensing requirements, licensees must complete 14 hours of continuing education requirement during the 4-year license term. Fortunately, at this time applicants will not have to pass a pre-licensing examination, as is required in Maryland and Virginia.

Read the text of the Bulletin.

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