Update on Implementation Process for New DS-1 Form (Disclosure of Financial Interest)

Monday, May 07, 2018 4:51 PM | Anonymous

The Department of Financial Institutions Has Delayed Implementation of the Revised DS-1 Form (Disclosure of Financial Interest) . . . Again!

The Illinois Real Estate Lawyers Association remains extremely concerned about the Division of Financial Institution’s release of a revised DS-1 form (a document which, on its face, is disparaging to attorneys who function as title agents; it would also be impossible to implement).

We received notice late today that the May 15 implementation date for the revised DS-1 form (released on April 3, 2018) has again been delayed — with a new date of June 1, 2018.

IRELA continues to take the position that the form should be revised before formal adoption. We will keep you updated in the coming days and weeks as events unfold.

In light of these developments, IRELA will hold three (3) special townhall meetings in May (throughout the Chicagoland area):

May 9: 12:00 to 1:30pm
Oak Lawn Public Library (9427 Raymond Ave., Oak Lawn)
More info: http://www.irela.org/2018/05/town-hall-on-may-9-2018-in-oak-lawn/

May 16: 12:00 to 1:30pm
DuPage County Bar Association (126 S. County Farm Rd., Wheaton)
More info: http://www.irela.org/2018/05/town-hall-on-may-16-2018-at-dcba/

May 23: 8:00 to 9:30am
Max & Benny’s (461 Waukegan Rd., Northbrook)
More info: http://www.irela.org/2018/05/town-hall-on-may-23-2018-in-northbrook/

All Illinois attorneys are encouraged to attend, irrespective of their IRELA membership status. Lunch will be provided to anyone who RSVPs in advance (send to: info@irela.org). MCLE Credit: 1.0 hours of credit will be provided.

IRELA will continue to monitor the situation and keep you informed of information as it develops.

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