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The New Math

Posted By Robert Treuber, Wednesday, August 26, 2015
Updated: Tuesday, August 25, 2015

We held our annual meeting last week and a very significant change in our By-laws was approved by both the Title Insurance Section and the Agents Section in their respective Section Meetings.

 

It concerns the Executive Committee voting requirements to approve a motion. In simple terms, a two-thirds majority of the EC Members present in person or by proxy decides the outcome of a vote.  There are exceptions for issues which raise anti-trust concerns but that's it in a nutshell.

 

This is a significant step towards parity between the Sections.  The Title Insurance Section voted to relinquish their ability to defeat a motion with only a handful of Title Section votes, a power not available to the Agents Section.

 

The Underwriters and the Agents bring different things to the title insurance marketplace and there is no denying the split is a "zero-sum game". Neither can we ignore the competitive tensions within each section. That's Ok. You knew this when you got into this business.

 

As the Association Executive Director, I have the advantage of stepping back from the daily fray of commerce and from this perspective I see good things happening.

 

The change in the voting structure is a sign of this Association's maturity and growth toward speaking with one voice in the common interests of the title industry.

  

 

Tags:  Convention  EC  Executive Committee  voting 

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The New York State Land Title Association, Inc. advances the common interests of all those engaged in the business of abstracting, examining, insuring titles, and otherwise facilitating real estate transactions. The Association promotes the business and general welfare of its Members and protects real property title holders’ ownership rights.