Bulletin: WY2017002

Date:
July 26, 2017
To:
All Wyoming Issuing Offices
RE:
LEGISLATIVE UPDATE - 2017 Wyoming Legislation

Dear Associates:

The following are summaries of some bills passed during the 2017 Wyoming legislative session, which are of interest to the title insurance industry. All Bills became effective as of July 1, 2017, unless otherwise noted. 

HB0021 (Certificates of Authentication): This Bill authorizes the Secretary of State to issue a certificate of authentication or an apostille evidencing the origin of a public document or the authentication of the official seal or signature of the person or authority in this State that sealed or signed the document. This Bill is effective immediately. 

HB0043 (Board of Insurance Agent Examiners): This Bill repeals the State Board of Insurance Agent Examiners and replaces it with a review panel comprised of six licensed insurance producers or adjusters. The board members are appointed by the Insurance Commissioner and assist the Commissioner in reviewing licensing examination procedures for producers and adjusters. This Bill became effective as of July 1, 2017. 

HB0056 (Mobile Home Title Status): This Bill creates a method for an owner of a mobile home that is installed on a permanent foundation, when the owner’s certificate of title or other relevant documentation is unavailable, to obtain a title for immediate surrender to and cancellation by the County Clerk. To obtain a title for immediate surrender and cancellation, an owner may provide an affidavit that includes statements as to the unavailability of the certificate of title and regarding the mobile home’s permanent affixation to the real property. The Department of Transportation will develop the affidavit form. This Bill became effective as of July 1, 2017. 

HB0097 (Amendments to UTMA): This Bill amends the Uniform Transfers to Minors Act to allow for custodial gifts or transfers to be held by the custodian beyond the time that the minor reaches twenty-one (21) years of age. This Bill became effective as of July 1, 2017. 

SF0096 (Real Estate Brokers and Salespersons): This Bill revises Wyoming Statutes to conform to current operating practices of Real Estate Brokers and Salespersons. The Bill requires disclosure of certain relationships among Real Estate Companies, Licensees, and Brokers and also clarifies regulations regarding prohibited conduct, marketing, and advertising. This Bill became effective as of July 1, 2017. 

SF0105 (Uniform Power of Attorney Act): This Bill adopts the Uniform Power of Attorney Act. Among other things, the Uniform Act establishes requirements for execution, applicability, durability, and termination of Powers of Attorney. The Uniform Act also specifies what specific and general authority may be granted to agents under a Power of Attorney. This Bill becomes effective on January 1, 2018, but it specifies that all Powers of Attorney properly executed and valid as of that date shall remain valid and enforceable and shall be construed according to their terms. 

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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.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None