Bulletin: KY2020002

Date:
July 09, 2020
To:
All Kentucky Issuing Offices
RE:
LEGISLATIVE UPDATE - KY Legislative Update 2020

Dear Associates:

Please note two items of interest from the 2020 Legislative Session. House Bill 154 (linked HERE) amends KRS 457.050, and deletes the two-witness requirement for a power of attorney (see Section 42). House Bill 155 (linked HERE) amends KRS 396.011 to change the time a creditor has to file claims against an estate (see Section 8). The time period will be 6 months after a personal representative is appointed, 60 days if the personal representative directly notifies the creditor, and 8 months after decedent’s death if no personal representative is appointed. The new law becomes effective July 15, 2020.

Please contact the Kentucky Office with any questions.

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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