Shall be limited to individuals or entities who or which are directly engaged in the business of land title evidencing or insuring as an abstracter, title insurance agent or title insurance underwriter in the State of Illinois in compliance with applicable Federal and State Law.

The ILTA Board of Directors has joined a growing list of land title associations and companies who subscribe to the ALTA Principles of Fair Conduct. The Principles essentially raise the bar for ethical and lawful behavior within the title industry. By voluntarily adopting and adhering to the Principles, our industry can demonstrate compliance without the need for government intervention. Principles are more than lofty goals. Within each of the five Principles are concrete action steps for implementation. While the majority of individuals within our industry already follow the spirit of the Principles, the actions of a few have a detrimental impact on the entire industry. And, without the authority to enforce the Principles, we believe the best way to address behavior is through education and pressure from peers.

Preamble

The ALTA Principles of Fair Conduct represent the association’s commitment to promote behavior within the title industry that serves the needs and interests of consumers.

The Principles describe ALTA’s expectation of its members to adhere to the highest standards of ethical behavior and the laws and regulations governing the business of title insurance.

The “Appropriate Steps to Implement the ALTA Principles” sets out specific actions that members can take, and suggests what government can do to assist the title industry in this regard.

ALTA encourages all of is members to pledge to support The Principles, and to incorporate them into their daily business practices.

ALTA pledges to assist its members in implementing The Principles through ongoing training on ethical standards and legal compliance.

ALTA has formed a special Committee for ongoing review of The Principles annually to ensure that they continue to address the needs and interests of the consumer public.

1. To engage only in business practices that are lawful and consistent with high standards of ethical behavior.
2. To encourage a culture of compliance within their organizations for federal and state laws that govern the title insurance business and for these Principles.
3. To treat consumers in a fair and ethical manner.
4. To provide consumers with timely and comprehensive information regarding their policies, services, products and prices so as to enable consumers to shop effectively among providers of title-related services.
5. To encourage and assist consumers to be educated purchasers of title insurance and title-related services.