TitleGram

Page Two

 

Dues Structure Examined by Board

OLTA is growing in leaps and bounds. And, with that growth comes growing pains.

At several recent OLTA Board meetings, the Board spent a great deal of time reviewing the current dues structure and discovered that a dues increase had not been implemented for over 10 years. In addition to cutting expenses, the Board felt a dues increase would help meet the ever-growing expenses associated with running an organization.

Additionally, the Board discussed its desire to not only continue providing the quality services as always, but to also add services as a value and benefit of membership. Those services include the addition of an executive director over the past two years, reinstituting a professional quality quarterly "TitleGram" newsletter, increased website services, electronic c.e. transcript tracking services and onsite registration for OLTA meetings on the website.

In order to accomplish these goals, the Board voted at the September meeting to implement a dues increase beginning the 2003 dues cycle. Members will receive an invoice before the end of the 2002 calendar year with a statement reflecting the amount payable for the 2003 calendar year. By implementing the dues system as presented below, the Board hopes to be able to anticipate more accurately the amount to be received from dues income.
 
 
The membership dues
effective 12/1/02 are as follows:
ABSTRACTOR/TITLE AGENT MEMBERS:
Population Category
1. Population greater than 250,000
2. Population from 115,001 to 250,000
3. Population from 50,001 to 115,000
4. Population from 30,001 to 50,000
5. Population from 15,001 to 30,000
6. Population from 10,001 to 15,000
7. Population below 10,000

 		Amount of Dues
$1,000.00
$900.00
$800.00
$700.00
$600.00
$400.00
$300.00
UNDERWRITER MEMBERS:
Gross Income
$0-$250,000
$250.001-$300,000
$300,001-$350,000
$350,001-$400,000
$400,001-$500,000
$500,001-$750,000 		Amount of Dues
$600.00
$700.00
$800.00
$900.00
$1,000.00
$1,250.00
Plus $10.00 per $10,000 premium above $750,000,
maximum of $2,500.00
ASSOCIATE MEMBER: $250.00
 

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Posted February, 2003
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