Please click here to read the Texas Land Title Association announcement concerning the Guaranty Assessment Recoupment Charge (GARC).

Beginning January 1, 2018 through December 31,2018 , title agents will be required to collect a GARC fee of $4.50 on each owner and loan policy. This fee must be rendered quarterly to the Texas Title Insurance Guaranty Association (TTIGA).  Exhibit B of the Commissioner's Order includes the Guaranty Assessment Recoupment Charge Remittance Form that title agents should use to remit the charge. You can view that form on pages 11-12 of the Order.

 

Additionally, while the GARC fee is in place, beginning Jan 1, 2018, the Guaranty Fee will be lowered from the current $3 per policy charge to $0.  

 

While the GARC fee will function in a similar manner to the current Guaranty Fee it's important to note that they are two different fees:

 

The GARC Fee:

• Will be due to TTIGA from January 1, 2018 through December 31, 2018.
• Will be $4.50 during this time period.

The  Guaranty Fee:

• Is being suspended starting January 1, 2018 while the GARC Fee is in place.
• Is now $2 but will be $0 during this time period.

Visit the TTIGA website for more information  

 

If you have any questions relating to this or other bulletins, please contact your National Investors representative.