THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.
Bulletin: NJ000007
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Bulletin: NJ000007
Dear Associates:
As I indicated in my memo of March 28, 1994 there would be undoubtedly some questions as to the new Construction Lien Law. One of the most glaring defects in the law was the fact that it repealed the old law leaving in limbo any filings and lien claims under the old law. There also appears to be some question as to the proper method of filing the documents required by the new law. The County Clerks filed suit to attempt to stay the implementation of the law pending a resolution of these issues. A Consent Order was issued in the matter, a copy of which is enclosed with this memo.
Basically, the Consent Order provides for the continuation of the old Lien Law as well as permits filings under the new Lien Law. Accordingly, until further notice we will take our standard exception to any filings made under either Lien Law. The Company will keep you advised as to any change in this matter.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- Exceptions Manual:
- None
- Forms:
- None