Meeting was called to order by chairman, Bob Sagel-Morgan County. Jamie Crocket, Jackson County, was appointed secretary.
No roll call was taken, noted as absent were Connie Joiner, Jim Ventrello and Karen Sheaffer. Karen Sheaffer sent Kathy and Rikki as her proxy representation-one vote between them.
Housekeeping bill: Jack Arrowsmith suggested we add “ACH or draw-down accounts” be added to the wording in 38-38-107(2). Following discussion of all provisions noted on agenda the committee agreed to go forward with this to legislation. Peg Ackerman suggested we ask that the drafters of the bill provide the committee a rough draft to review before sending to the legislation for consideration.
Bill to lengthen the cure period and delete owner redemption was discussed. A motion was made and seconded to present the proposed change to the bar association, via Larry Castle, and get their reaction before we go forward to the legislature. Those present approved the motion.
Other business:
Larry Gilliland with chair a committee on Time Share companies and requests for release. He will contact the counties this issue affects. This committee will report its findings at a later date.
Fee Reduction: Sandy Hume proposed a sliding scale, $10 - $15, for an E-Release. Jack Arrowsmith proposed a separate E-release fee to be distinguished from the paper release fee. Peggy Foley and Peg Ackerman would like to see more data from more than the 2 counties currently doing e-releases. More discussion resulted in a Motion by Sandy Hume to go forward with a bill to reduce the fees of e-releases so public trustees are not sending large amounts of money back to the counties. Tina Whitmer seconded the motion. Peggy Foley stated she has not closed her mind the issue but would like to look at this next year after more counties have gone online with the e-releases. Following a vote of those present, the motion failed.
E-foreclosures: Jack Arrowsmith reported that Larry Caste, as a non voting member of the e-foreclosure committee, has gone to the bar association and reports there is positive movement within that association to look at the statutes regarding foreclosures. Jack related to Larry that this committee has tabled the issue of E-foreclosure legislation for the time being. Larry said he would not want the Public Trustee’s to wait until the legislature regulates what we would have to work with. Jack hopes we can move ahead and see what the bar association comes up with. It was moved and seconded that this committee let the bar association know that we would like them to move forward and work on a bill for e-foreclosures but to keep the Public Trustee’s in the loop and give us a voice in the drafting of the bill. A vote approved the motion.
Discussions on standardized forms for e-releases as well as paper releases followed. Tina Whitmer proposed that the public trustees use the new forms for a year before recommending their adoption so any flaws can be revised/corrected. Those present agreed with this proposal.
Holly Williams reported on the Uniform Residential Mortgage Satisfaction Act. Its intent is similar to the UCC. The act makes reference to an Uniformed Non Judicial Foreclosure Act. Also states that releases should only be done by title companies, no mention of Public Trustees. Holly will find the Uniformed Non Judicial Foreclosure Act and report on that. Holly also informed the committee that a freshman legislator from El Paso County is planning to carry legislation concerning the Public Trustee Statute regarding the special reserve account. Specifically the account that is to be 100% of the previous years operating costs. The proposed legislation is to be titled so it cannot be amended, and add a sub section (3) to the present statute allowing the public Trustee to initiate a reduction on the special reserve fund from 100% down to 20%. Due to the good working relationship El Paso Public Trustee office and the El Paso County Commissioners have, Holly feels she can go to the commissioners and request extra funds if her office goes over budget. There was a lively discussion and Holly has been asked to submit a draft to this committee, by e-mail, for review. Sandy requested a vote on the proposed bill be by e-mail as well.
A suggestion that 38-37-1-4(3) concerning the investment of Public Trustee funds be re-worded to include Local Government Investment Pools, possibly including the investment statute for Treasurers. A vote on this proposal approved the suggestion. Discussion followed may be able to get into legislation.
Peg Ackerman and Debbie Wagner have compiled a list of the new members of the house and senate. They hope to have the committee assignments soon and will fill in the charts handed out and post it on their web site. Peg is also working on a database of names and home address’s of the legislators for our use. She also suggested that go ahead with legislation on e-foreclosures as well as run it by the bar association. The committee agreed to let Peg and Debby make the discussion as to who should carry the bill for us, as well at the clean-up bill.
Next meeting date will be sent out by e-mail.
Respectfully submitted,
S/Jamie Crocket