Bulletin: NL000110

Date:
November 09, 2001
To:
All Issuing Offices
RE:
Executive Order Freezing Assets
Dear Associates:

On September 23, 2001, President Bush signed an Executive Order (No. 13224) freezing assets and prohibiting the transfer of assets owned by persons associated with terrorist activities. The Order was effective on on September 24, 2001. The Order will be administered and enforced by the Office of Foreign Assets Control (OFAC). This list has subsequently been updated on October 12, 2001 with the addition of several more names and entities. It is expected that this list will be augmented in the future.

You can access the Order and the list of persons and entities whose assets have been blocked at http://www.treas.gov/ofac . You should access this site periodically in the event that more names are added.

In the event you have a transaction which includes one or more of the named persons or entities, do not close that transaction without contacting your Stewart underwriting counsel for additional instructions.

Should you have any question, please do not hesitate to contract your Stewart underwriter or the National Legal Department in Houston.

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