Bulletin: NY000436

Date:
March 10, 2010
To:
All New York State Office Counsel, Managers and Agents
RE:
New York Tax Payers for Economic Justice

Assemblyman Richard Brodsky and Senator Eric Adams legislative proposals S6290 and A9445A, if enacted would create a new governmental agency, to be known as the New York Title Guaranty Authority and would underwrite title insurance in New York State. These proposals would dismantle an efficient, ethical, consumer driven title insurance industry and would amount to a governmental take over of a viable private industry.

Stewart Title Insurance Company strongly recommends to all of its policy issuing offices to get informed and to speak out against such proposals. Find out more at http://www.nytaxpayersforeconomicjustice.org/index.htm.

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:
NY000424 Assemblyman Richard Brodsky proposal for "public option" title insurance
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None