23 HќќѠіђџȱ юћјђџ Ѣћђ 2014 good standing with the state. ȱ ȱȱ¢ȱȱęȱȱ most basic element for compliance. Having completed those state requirements — and any subsequent annual requirements, such as continuing education and payment of fees — allows for maintenance of the license in good standing. Other aspects to licensing requirements of ALTA Best Practice No. 1 are: ŗǯȱ ȱ¢ȱȱȱȱȱ registrations prescribed by the state bar (if applicable); Řǯȱ ȱ¢ȱȱȱȱȱ registrations prescribed by the state department of insurance (if applicable); řǯȱ ȱ¢ȱȱȱ ęȱȱ¢ȱȱ regulators; 4. Complete all continuing education requirements; 5. Pay all fees associated with licensing; 6. If your entity is a non-personal ¢ǰȱȱ¢ȱ¢ȱȱęȱ whatever annual reports (if any) and supporting documentation that are required for your entity to remain in good standing with the secretary of state; ŝǯȱ ȱȱȱȱ compliance with ALTA’s policy forms licensing requirement; Şǯȱ ȱȱȱȱȱȱ licenses; şǯȱ ȱȱȱȱȱęȱ with a log of licenses, expiration dates and copies of licenses for quick reference. ALTA Best Practice No. 1 simply restates the obvious by giving professionals credit for certain best practices that already should be part of everyday business. For more information about the ALTA Best Practices and how to comply, please visit www.alta.org/bestpractices, or ȱ ȱ Ĵȱȱ ȱ Title Insurance Company at 419-577śşŖŖǰȱDZȱĴȓǯǯ яќѢѡȱѡѕђȱ Ѣѡѕќџ Jonathan Biggs is vice president for risk management at Investors Title Insurance Company and a member of the ALTA Best Practice Task Force. He joined the company in 2012, prior to which he served for ȱȱŘŖȱ¢ȱȱȱ ȱęȱȱ ǰȱ ȱ Carolina. Biggs is a past president of the Durham Bar Association’s Young Lawyers Division and of the Durham Junior Chamber of Commerce. He has been recognized with The Distinguished Service Award by the Durham Jaycees Inc. and in 1999 was named one of the Five Outstanding Young North Carolinians by the North Carolina Junior Chamber of Commerce. Biggs is a graduate of Duke University and of the Wake Forest University School of Law. The author can be reached at 800-326-4842, email: jbiggs @invtitle.com. Investors Title Insurance Company is a of the Indiana Bankers Association and an IBA Preferred Service Provider. ĸĐŝĞŶĐLJ tŚĂƚ ĚŽ LJŽƵ ǁĂŶƚ ĨƌŽŵ LJŽƵƌ ůĂǁ Įƌŵ͍ ŽƐĞ DĞĂŶƐ ƵƐŝŶĞƐƐSM ďŽƐĞůĂǁ͘ ĐŽŵ * For a quick reference to state requirements, go WR ZZZ LQYWLWOH FRP GRFV DUWLFOHV JHQHUDO 5HTXLUHPHQWV E\ 6WDWH SGI Ĵȱ ȱȱ ȱ Association h celebrating its 125th anniversary this year. The bank has ANNIVERSARY MILESTONES $ VDOXWH WR EDQNHUV ZLWK \HDUV RI VHUYLFH been in business since 1889, serving individuals and small businesses.
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