Virtual Underwriter

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Bulletin: NY000349

Bulletins by State or Territory
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Bulletin: NY000349

Bulletin Document
V 1
Date: March 21, 2008
To: All New York State Office Counsel, Managers and Agents
RE: Proposed increase in filing fee of EA-5217

Reference is made to Bulletin NY000346 regarding a proposed increase in filing fees for the EA 5217.

With respect to the increase in the filing fee for the transfer reporting form, the Senate's budget resolution rejected this fee increase entirely, and the Assembly's amended budget bill (A9806-B) also rejected this proposal. So the effective date problem became academic. Obviously, we will monitor this closely as the two houses negotiate a single budget, but at this point we have no increase in fees.

If you have collected any of the charges covered by the proposed bill as a precaution in light of our previous bulletin, please refund them to the customer at your earliest convenience. We will keep you posted of any developments.

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.

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