Bulletin: CT2017005

Date:
August 21, 2017
To:
All Connecticut Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - New Statutory Power of Attorney Forms

Dear Associates:

Effective July 1, 2017, Section 12 of Public Act No. 17-91 replaced the statutory long and short forms of Powers of Attorney by repealing and substituting a new Section 1-351 of the Connecticut Gen. Statutes. This public act: 

a) broadens the list of activities that require a power of attorney's specific grant of authority;

b) specifically states that use of forms substantially similar to the statutory forms is allowed to create a statutory power of attorney with the meaning and effect prescribed in the Uniform Power of Attorney Act;

c) revises the statutory forms by adding provisions for digital devices, digital assets, user accounts, electronically stored information, and intellectual property. 

P.A. 17-91 along with the new forms are available on the links below.

P.A. 17-91

2017 Long Form POA 

2017 Short Form POA   

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.

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:
11.22 Limited Liability Companies
Exceptions Manual:
Limited Liability Companies
Forms:
None