Bulletin: FL000062

Date:
January 06, 1997
To:
All Stewart Title Agents in Florida
RE:
First Lien Letters; Florida Form 9 - Oil, Gas and Mineral Rights

Dear Associates:

The Insurance Department periodically issues a newsletter type publication know as the "The Intercom". The most recent issue is Volume 6, No. 3, dated July July-Oct 1996, and carries on page 2 an article under the heading "Title Insurance".

1. First Lien Letters

A brief paragraph dealing with first lien letters make it clear that they are not to be issued in Florida. Whenever you receive a request from a lender to supply a first lien letter, you should advise them that it is not approved by the Department of Insurance and then send them a copy of the article to support your position.

2. Florida Form 9 - Oil, Gas and Mineral Rights:

Another paragraph deals with the Form 9 endorsement as to oil, gas and mineral rights and advises consultation with the Department when requested by a lender to modify the provisions or insure over. Be sure to comply with the Insurance Department request when dealing with Form 9 endorsements and requested modifications for oil, gas and mineral rights.

A copy of the quoted article is available from the Florida State Office in Tampa.

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