Bulletin: ID000006

Date:
April 21, 1993
To:
All Policy Issuing Agents, Offices and Approved Attorneys - Idaho
RE:
Misc. Forms Filings - Idaho

Dear Associates:

As most of you know, the Department of Insurance of the State of Idaho has taken the position that many, if not all, miscellaneous reports currently provided by policy issuing agents fall within the definition of title insurance and must be filed and approved for use in the state, either by the Company or the policy issuing agent, as applicable.

It has come to my attention that some policy issuing agencies are issuing various reports called Foreclosure Reports, Memorandums of Title and similar names written upon the letterhead of the policy issuing agent. Stewart Title Guaranty Company does not utilize or condone the issuance of these reports that to date have been submitted for review upon the letterhead of Stewart. We certainly recognize that you may have needs to utilize such reports unique to your area.

The Company has filed and the Department of Insurance has approved for use in the State of Idaho various CLTA Guarantee Forms, including Trustee's Sale Guarantee, Litigation Guarantee, Recorded Document Certificate, Recorded Instrument Guarantee, etc. These are the only miscellaneous report forms that a policy issuing agency may utilize which bears the name of Stewart.

If you need to utilize any of the foregoing types of reports, other than those filed and approved by the Department by Stewart, you need to make such applications and filings that are appropriate with the Department of Insurance of the State of Idaho.

Of course, if I can do anything to assist you, please call.

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:
CLTA Litigation Guarantee 1
 
CLTA Recorded Document Guarantee (05/16/90) 27
 
CLTA Recorder's Index Guarantee 21
 
CLTA Trustee's Sale Guarantee (Revised 05-27-09) 22