Virtual Underwriter

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Bulletin: NY000206

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Bulletin: NY000206

Bulletin Document
V 1
Date: May 16, 2003
To: All New York State Office Counsel, Managers and Agents
RE: 1) City Register Transactions; 2) Increase Filing Fees for Form RP-5217 (Equalization & Assessment)

Dear Associates:

This Bulletin is furtherance of Stewart Title Insurance Company Underwriting Bulletin NY000205 issued May 8, 2003.

(1) To clarify the procedure necessary for an agent of Stewart Title to be exempt from the certified check requirement for recording documents with the New York City Register, the agent must, on the appropriate portion of the ACRIS cover page, identify itself as "an agent" of Stewart Title Insurance Company. The guarantee necessary from Stewart to the City Register is now in place for all current agents.

(2 Regarding the increase for filing the Equalization and Assessment form, please see the following statement from the New York State Land Title Association.

If you have any questions, as always, please contact your Company representative or Company Counsel.

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.

References