- January 10, 2008
- All Arkansas Issuing Offices
- Arkansas Act 684 Requirements
In keeping with the provisions of Arkansas Act 684 of 2007 as of January 1, 2008 agents will be required to have a "brick and mortar" office accessible to the public located in the State of Arkansas in order to issue Title Insurance in this State. Additionally you will be required to employ a resident of Arkansas as a Signing Agent licensed by the Arkansas Department of Insurance to sign commitments and policies on behalf of your Company. This is option A.
Option B is to order your Title Insurance from a local Title Agent here in Arkansas. This is probably the most feasible route to take unless you have a large volume of business in this State. Agents may call this office for the information regarding a title agent located in the County where your property is and we will direct you accordingly.
For information regarding Act 684 and its associated rules 87 and 88, you may go to the Arkansas Department of Insurance Website at www.insurance.arkansas.gov, scroll down to Insurance Law and click on Legal Division, then click onRules-Finaland then scroll down to87 and 88 totake you to the appropriate site regarding both the Act and the Rules.
Please call Kim Majors at 1-800-530-8237 for any additional information you may require.
For on-line viewing of this and other bulletins, log onto http://www.vuwriter.com.
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.
- Bulletins Replaced:
- Related Bulletins:
- AR2007001 Title Insurance Transition
- Underwriting Manual:
- Exceptions Manual: