CO Violation of Non-Profit Corporation By-laws Endorsement Guideline 100.16
Explanation:Provides the lender with a specific type of insurance that protects against loss as a result of judicial enforcement of by-laws purporting to require membership in the association as a prerequisite to the ownership of the interest insured.
Underwriting Requirements:(1) Investigation is required to determine the exact nature and extent of any violation.
(2) If restrictions are of record and affect the insured property, this endorsement cannot be given.
(3) Contact the appropriate Stewart Title underwriting personnel for approval to issue this endorsement.
The underwriting guidelines contained herein have been provided for general reference. The facts, circumstances, and location of the subject property should be considered when determining the issuance of the requested form or endorsement. Please note that all of the forms and endorsements included in this system may not be available in all states. Accordingly, please contact the appropriate Stewart Title Guaranty Company underwriting personnel in order to determine availability.
Compliance with the underwriting guidelines contained herein in no way obligates Stewart Title Guaranty Company to issue any form or endorsement.
This guideline applies to the following form(s):