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Chicago NCS CTIC - Newsletter3Q2016
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NEWS & EVENTS
IN CASE YOU MISSED IT!
caught up with our AVP & Assistant Regional Counsel
and AVP & Construction Escrow Underwriter
to discuss what you can do to ensure there are no impediments to finalizing and closing a deal when new construction is involved.
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By Douglas M. Karlen,
Vice President and Regional Counsel
Chicago Title Insurance Company
On July 28, 2016, Governor Rauner signed into law a massive re-write of the Limited Liability Company Act, 805 ILCS 180/1-1 et seq. See Public Act 99-637 (HB 4361), effective July 1, 2017. This comprehensive revision of the Limited Liability Company Act (LLC Act) is based in large part on the Revised Uniform Limited Liability Company Act, a model act written by the National Conference of Commissioners on Uniform State Laws. Although P.A. 99-637 amends many sections of the LLC Act merely to match the language of the model act, the new law makes some substantive changes and adds some new concepts. Attorneys who intend to form limited liability companies and draft operating agreements and related documents should study all 112 pages of P.A. 99-637. For a starting point in analyzing the new law, practitioners may consult M. Hector,
Proposed legislation makes sweeping changes to the Illinois LLC Act
, July 2016 Illinois Bar Journal, Vol. 104., pp. 12-13.
This issue of Karlen's Korner provides provisions of the new law that should be of interest to real estate practitioners.
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Lucas Kmiec serves as Associate National Counsel for Chicago Title's Chicago National Commercial Services (NCS) operation. Lucas joined the Company in 2010 as a commercial underwriter in the National Department. Since then, Lucas has been involved with both single site and multi-site transactions for some of our largest customers.
CONTACT LUCAS TODAY!
Our Chicago NCS operation has added several new features to our website to make it easier for our customers to access the information they need, when they need it. Our
page includes helpful links to our Commercial Real Estate Laws and Customs chart and eBook, NTI Web for state specific information, continuing legal education, and more! The
NEWS & EVENTS
page has our #CTtalk articles covering topics from the basics of title insurance to coinsurance to construction disbursing. You'll also find on this page a calendar for upcoming industry events, previous quarterly e-newsletters, and recordings of our past webinars. Last but not least, if you're looking for an underwriter or escrow officer we've added a number of our staff to the
page to help you find them easily.
We keep adding to our website so please check back now and again for more helpful information!
VISIT OUR WEBSITE
ALS Walk for Life
Chicago Title was well represented at this year's walk at Soldier Field on September 18th! Co-workers, friends and family joined "Team Mo Better" to support our co-worker, Michelle Crockett, and the
Les Turner ALS Foundation
GO TEAM MO BETTER!
Sometimes you just have to let loose, and at this year's employee appreciation party we did just that! Bocce ball, pool, foosball, delicious food and great company made for a fun and memorable event!
20th Anniversary Celebration
Chicago Title's VP and Illinois State Counsel
was honored at John Marshall Center for Real Estate Law's 20th anniversary celebration. To read more about their real estate program and our partnership, check out this
Chicago Title Insurance Company, National Commercial Services | Chicago
10 S. LaSalle Street
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