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: SLS2020011
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Bulletin: SLS2020011
Dear Associates:
A title insurance policy insuring property that you know is used or intended to be used for the growing or production of hemp or hemp-derived CBD (cannabidiol) should include the following exception in all commitments and policies (Owner's and Loan) for that property:
Neither this policy nor any endorsement covers any loss or damage arising from any allegation that the use of the Land lacks compliance with covenants, conditions or restrictions or federal or state law or ordinance regarding the cultivation or production of hemp or CBD (cannabidiol).
The foregoing exception is not required in commitments or policies if the property is used or intended to be used as a retail establishment selling legal hemp and/or hemp-derived CBD (cannabidiol) products.
This Bulletin does not relate to property involving marijuana or cannabis, or authorize insurance of title to property involving marijuana or cannabis. Please refer to Bulletin SLS2017004 UNDERWRITING - Land Used for Marijuana Activities.
If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.
For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.
References
- Bulletins Replaced:
- Related Bulletins:
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None