Bulletin: NY000415

Date:
September 04, 2009
To:
All New York State Office Counsel, Managers and Agents
RE:
Amendment to Bulletin 412

New York State Department of Taxation and Finance has removed the requirement that form POA-1-IND, be executed when submitting a TP-584 signed by power of attorney. The Department will accept either its own form, or a form of power of attorney that complies with the new statute. The State will accept the new statutory form of power executed on or after September 1, 2009, the old form of power if properly executed prior to September 1, 2009, or a non-statutory or out-of-state power of attorney that meets the requirements under the new statute.

Please contact company counsel with any questions

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

Bulletins Replaced:
None
Related Bulletins:
NY000412 New Statutory Power of Attorney and Real Property Transfer Tax Filings
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None