Bulletin: ID2013001

Date:
October 28, 2013
To:
All Idaho Issuing Offices
RE:
LEGISLATIVE UPDATES - Idaho Legislation 2013

Dear Associates:

The following is a summary of legislation that was passed in the 2013 legislative session.

SB 1033 amended ICA 15-12108:  Statute now provides that in the event a court appoints a conservator for the principal, after the principal executes a power of attorney, the power of attorney is terminated unless specifically continued by court order.

SB 1046 amended ICA 7-701(2)(c) by stating that Eminent Domain shall not be used to acquire private property that will be used as trails, paths, greenways or other ways for walking, running, hiking, bicycling or equestrian use, unless adjacent to a highway, road or street.

SB 1006 amended ICA 40-203B, Abandonment or Assuming Control of a Highway. Statute now provides that prior to abandonment or assumption of a highway the local highway jurisdiction MAY conduct a public hearing and provide notice to impacted property owners.

HB 321 further amended this statute by providing that prior to designating a new highway or public right-of-way the board of county or highway district commissioners shall confirm that no abandonment has occurred, that county has ownership, and that notice of hearing be provided to affected landowners.

HB 76 amended ICA 45-1510 to provide that where a trustee’s sale is invalid because of automatic stay recordation of a notice of rescission of trustee’s deed restores the condition of record title to and the existence and priority of all lienholders to the status quo prior to the trustee’s sale.

HB 58 amended ICA 45-1902 adding ICA 45-1907A establishing a procedure to withdraw state liens.

HB 128 amended ICA 43-2205 to provide that irrigation operating company’s liens are valid for three years unless a court proceeding is started prior to the expiration of the three years. 

SB 1198 added chapter 20 to Title 30 ICA. Chapter 20 is now the Idaho Uniform Business Organizations Code. This Act adopts for the most part the Uniform Business Code dealing with how corporations, limited liability companies, limited partnerships cooperatives and business trusts are formed, governed and terminated. 

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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.

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:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None