Bulletin: NY000048

Date:
July 14, 1994
To:
New York State Counsel, Managers, Underwriters & Agents Please alert your Closers and Recording Personnel
RE:
Laws of 1994, Chapter 205 Building Loan Agreement Filing Fees

Dear Associates:

The fee for filing building loan agreements or building loan modifications with the county clerk's office has been increased. In counties outside New York City, the charge is now $25.00 (up from $1.00). In the five counties within the City of New York, the charge has been increased to $50.00 (where it formerly was $25.00).

The statute (Ch. 205, L. 1994) amends that portion of the first paragraph of Lien Law §22 which relates to the filing fee, and was enacted on June 28, 1994, with an immediate effective date.

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