Bulletin: SLS2015007

Date:
April 01, 2015
To:
All Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - ALTA U.S. Policy Revised 12-03-12

Dear Associates:

The ALTA U.S. Policy Form (9-28-91) Revised (12-03-12) has been in a transition phase since publication, during which time government attorneys were empowered to accept either the 1991 version or the 2012 revision. The transition period came to an end on January 31, 2015. 

As of February 1, 2015, the new version of the ALTA U.S. Policy (Revise 12-03-12) should be used exclusively, where available. In states where the new version is not available, a creditor’s rights exception should be added, as outlined in Stewart Bulletin SLS2013006.

The ALTA U.S. Policy (Revised 12-03-12) is currently available in the following states: 

Filed and Approved:
Alabama, Arizona, Arkansas, California, Connecticut, DC, Georgia, Hawaii, Indiana, Kansas, Kentucky, Maryland, Minnesota, Missouri, Montana, Nebraska, Nevada, South Carolina, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.

No Filing Requirements:
Colorado, Michigan, Illinois, Massachusetts, Mississippi, Oklahoma, Rhode Island, and Tennessee.

Rating Bureau States (Standard ALTA version or Modified ALTA version
Delaware, Pennsylvania, New Jersey, North Carolina, Ohio, and Louisiana. If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto 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.

References

Bulletins Replaced:
None
Related Bulletins:
SLS2013006 UNDERWRITING - Creditors' Rights Coverage for the Current Transaction
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
ALTA U.S. Policy Revised 2012