Bulletin: NY000139

Date:
June 13, 1997
To:
All New York State Office Counsel, Managers and Agents
RE:
Proposed Legislation (Assembly Bill No. 8225) Which Would Prohibit Non-attorneys From Preparing or Issuing Title Reports or Policies

Dear Associates:

A letter was sent from the New York State Land Title Association to the members of the Judiciary Committee of the New York State Legislature. The letter expresses the opposition of the Association to a proposed bill (A8225) which would prohibit non-attorneys from preparing or rendering an opinion of title including the issuance or certification of title reports or policies in this state. A copy of the bill is available through the New York City office.

Non-attorneys have played an integral role in the development of the title industry over the years. Their knowledge and experience in the title examination process and the review of information collected from the public record has long been relied upon by and proven to be invaluable to title underwriters and abstract companies alike. We believe that the exclusion of this group from participating in our industry would be unjust and, consequently, we think the legislation should not be enacted. A copy of the proposed bill is available through the New York City office.

The names of the members of the Judiciary Committee as well as the address of the Honorable Helene Weinstein, the Committee Chairperson, are available from the New York City office. If you wish to express your opinion with regard to this legislation, we suggest that you contact one or more of these individuals or speak to your own Assemblyman or State Senator.

Should you have any questions in this regard, please contact Company Counsel.

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