Bulletin: AZ000001

Dear Associates:

Senate Bill 1231 involving a variety of different issues became effective April 26, 1994. A portion of this new legislation deals with issuance of insured closing letters to both buyers and sellers of residential one-to-four properties. (See Section 8.41.02)

Effective April 26th, title companies were to begin to give certain disclosures to both buyers and sellers of residential one-to-four properties about the availability of insured closing letters from the title underwriter. In order to avoid any problems with the disclosures and/or immediate availability of these insured closing letters, Stewart Title Guaranty has decided to give blanket insured closing letter coverage, in accordance with our standard insured closing letter, to all buyers and sellers of these residential properties.

Therefore, it is unnecessary for any disclosure to be made to your customers about the availability of these letters. If your customer requests a copy of our standard buyer or seller insured closing letter, please call the Insured Closing Letter Department in Houston at 1/800/729-1902.