Bulletin: GA2021001

Date:
January 20, 2021
To:
All Georgia Issuing Offices
RE:
UNDERWRITING - Recent Changes to Georgia Law

Dear Associates:

Effective January 1, 2021, O.C.G.A. §44-14-366 was amended to change the term of a contractor’s or subcontractor’s ability to file an affidavit of nonpayment from 60 days to 90 days. This amendment included changes to the statutory forms for Interim Lien Waivers and Final Lien Waivers. The updated forms are attached in the links below.

If you have any questions, please feel free to reach out to your underwriting team:

Brian.Pierce@stewart.com

Bruce.Ferguson@stewart.com

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:
None
Underwriting Manual:
17.24 Releases
Exceptions Manual:
None
Forms:
GA Waiver and Release of Lien and Payment Bond Rights Upon Final Payment
 
GA Waiver and Release of Lien and Payment Bond Rights Upon Interim Payment