265—9.4(16) Operation.
9.4(1) Commitments, certificates, forms and manuals. The terms, conditions, and form of commitments and certificates shall be approved by the authority board. The division may adopt and use manuals and other forms as the division deems necessary for implementation and administration of the title guaranty program.
- a. The division will provide forms to a participant for use in issuing commitments and certificates on behalf of the division. A participant may not alter any form supplied by the division or use a form supplied by another person to bind the division. In addition, the participant shall not transfer or attempt to transfer unissued commitments or certificates to another participant or other person unless authorized in writing by the division.
- b. In addition to the division’s other rights and remedies, the division may refuse to allow the participant access to any forms until the participant complies with the requirements of this chapter to the satisfaction of the division.
- c. A participant shall be liable to the division for loss or damage sustained by the division by reason of the failure of the participant to comply with the requirements of this rule.
- 9.4(2) Application for commitments and certificates. The division will make an application for commitments and certificates available on the division’s website.
- 9.4(3) Rates. Rates for commitments, certificates and closing protection letters shall be set pursuant to Iowa Code section 16.91(1). In transactions involving extraordinary risk or unusual or unique endorsements, the division may assess additional charges.
The division offers guaranties of real property titles in the state through the issuance of commitments and certificates.
[ARC 0262D, IAB 5/13/26, effective 6/17/26]