Posted by Loanclosings on 9/24/08 7:19pm
Msg #265224
SB 546 for Illinois Notaries
Senate Bill 546 amends the notary public act and would require notaries of documents of conveyance for residential real property located in Cook County to obtain a thumb print from each person whose signature is the subject of the notarial act. The notary will also need to complete a Notarial Record for each person whose signature has been notarized.
Senate Bill 546 passed both houses on May 30th. The legislature presented this to the Governor for signature on June 27th. The Governor has until August 25th to sign the bill, amendatorily veto the bill, completely veto the bill, or do nothing. If he does nothing, the bill becomes law after 60 days. Currently, the bill has an effective date of July 1, 2008. I have been advised that the Governor is inclined to sign the bill with an amendatory veto setting the effective date at January 1, 2009.
The Act applies only to documents of conveyance that transfer, or purport to transfer, title to residential real property located in Cook County . The Act currently has a sunset provision of July 1, 2011.
A fee, up to a maximum of $25.00, may be charged for any notarial act performed pursuant to the section of the act requiring the Notarial Record.
Once the bill becomes law, CT will be required to obtain thumb prints from each person whose signature we notarize that are signing documents of conveyance for residential real property located in Cook County . We will also need to keep a Notarial Record for a period of 7 years.
For notaries that are not a principal, employee, or agent of a Title Insurance Company, Title Insurance Agent, Financial Institution, or attorney at law, the notary shall deliver the original Notarial Record within 14 days after the performance of the notarial act to the Recorder of Deeds of Cook County for retention for a period of 7 years, accompanied by a filing fee of $5.00.
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Reply by Lee/AR on 9/24/08 7:29pm
Msg #265226
Sounds like a real PITA for everyone involved. Now the notary is going to have to not only do the signing, driving, printing...but front a $5 filing fee and postage and HOPE they get paid. Glad I'm not in Illinois. Tho' I have to wonder about the 'dates' you mentioned.
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Reply by Linda Juenger on 9/24/08 9:23pm
Msg #265240
Old News. This only applies to Chicago (Cook County)
There is an entire state SOUTH of Chicago that is not affected by this. Too bad our governor doesn't know there is more to IL than Chicago. If its not in Chicago, its not in IL in his eyes. He won't even live in the capital mansion in Springfied. He insists on living in Chicago with his cronies and has spent hundreds of thousands of tax payer dollars on commuting back and forth in the corporate jet. Can't stand the SOB and BHO is right there with him. Beware folks. Can't imagine what our country will be like if BHO is elected. He has done absolutely nothing for IL. IL is just about bankrupt and Chicago is about to shut down financially.
Sorry, got on a rampage. Just venting.
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