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Show the enterprise KCC sues for precipitator damage Kennecott Copper Corporation filed a lawsuit in Third District Court last week alleging negligence by Arthur McGee Co. and Lift-A- ll Co., Inc. in installing a precipitator at its new smelter south of the Great Salt Lake. McGee, a Delaware firm, was hired to move the pollution control equipment into position at the new smelter. However, in the move, the precipitator was dropped some 65 feet and was consequently destroyed. In the suit, Kenne- cott alleges negligence by McGee and seeks replacement costs for the precipitator, amounting to $99,694.77. Lift-A- ll is the firm which manufactured the slings used by McGee in making the move. Kennecott alleges the three slings used in the moving operation were defective and failed due to carelessness and LOCATION LOCATION LOCATION 53RD SO. & 1-- 15 negligence. KCC also accuses Lift-A- ll of breaching its warranty on the slings and failing to manufacture a product which would not cause the plaintiff harm. This section of the lawsuit also seeks replacement costs for the precipitator. New Products dates units offering New Products Corporation announced the record date for shareholders who may participate in its proposed rights offering is June 16, 1978. Such date may be extended, however, dependent upon an effective date of registration statements currently pending with the Securities and Exchange Commission. All shareholders of record, as of the record date, residing in states where the rights legally may be offered, will be offered the opportunity to purchase units, each unit consisting of one warrant for one share of New Products Corporation common stock and one warrant for one share of NP Energy Corporation common stock. Prior to this proposed offering, shares of NP Energy Corporation have not traded in any market. New Product Corporations registrar and transfer agent is United California Bank, P. O. Box 3667, Terminal Annex, Los Angeles, Cal. 9005 Title changes continued from page remove the search aspect of their operation completely, using what is known as the casualty method instead. Here, the insurance company accepts the risk of underwriting a title without even trying to search for possible encumberances which might cloud the title. Bankers, who are the ones who require title insurance for real estate transactions, agree the function of the title policy is insurance. One local banker noted that even though he has never known of an instance where a bank has used title insurance to recover a loan, we wouldnt write a loan without it. authority it needs to act as regulator of the industry. He says the department needs more clout to deal with abuses in the system. Among the abuses, Rep. Smith notes the various aspects of the title which may not be included in the title policy, including defects in title which can be disclosed by title examination defects which the insured party should be aware of, zoning or governmental restrictions, mechanics or materialmens liens, or dower rights. In addition, Smith feels there should be a reasonable transferral fee for transferring title policy between a developer and a purchaser. For example, say a developer buys a piece of land, and then the construction company has to buy title insurance once again, and when the finished home or building is sold, still another policy is required of the purchaser. Smith argues a transferral fee in these types of cases would be more appropriate. Day says he isnt really sure what the outcome of all the anti-truhoopla will be. But from his perspective, the issue of which state department should regulate the title industry and how it should do it is the most pressing issue before the committee. Right now, says Day, st leaning 60-4- 0 for Call soon. Leased through The Realty Projects Group 1 272-214- Who should regulate Im The Carrera Building, a venture of the Smith Brothers Construction Co. and Minson-Halande- r, Architects, has 24,000 square feet of first-rat- e professional office space, available early 1979. de- regulation of the industry. At another time, he notes he isnt sure of the extent to which it should be regulated, but he favors hiring a full time staff member for the Department of Insurance to oversee operations of local title insurers. His own apparent uncertainty over the regulation issue is part of the reason Day, feels the study committee isnt fully aware of everything it needs to know in order to suggest definitive changes. Others, like Rep. John E. Smith of Tooele, are more definite about their concerns on regulation. Rep. Smith feels the insurance department docs not have the clear legal Despite the question marks surrounding anti-truapplicability and the extent of regulation, the study group has come up with some recommendations on which they can all agree. There seems to be consensus about hiring a full time staff member for the Insurance Department, as well as requiring bonding of title agents in order to assure their financial responsiblity, consolidating title policies for subdivisions and condominiums, and publishing a booklet describing the basics of title insurance for the public. The group is also expected to recommend more stringent testing procedures to upgrade the quality of title agents. st 1 One cannot copy by miracles alone. Sister Cerebella. 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