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.
Bulletin: IA2009003
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Bulletin: IA2009003
Dear Associates:
The attached materials contain information regarding implementation of the requirements of Section 455B.172, Iowa Code, which were outlined in Bulletin IA2009002. These requirements become effective on July 1, 2009.
The new administrative Rule, approved on June 29, makes changes to the Rule governing filing of Groundwater Hazard Statements, and provides for changes in the forms themselves. The changes to the Rule, summarized, are as follows:
1. An existing requirement, for filing of a Groundwater Hazard Statement (GWH) at the time of filing of a lease of five years or more, or for governmental transactions, has been eliminated.
2. The GWH Statement, and the instructions for completing it, have been changed.
Attached to this Bulletin are copies of: (1) the amended Rules; (2) the new GWH Statement form with the Waste Disposal Site attachment, and (3) the Instructions for Completing the Groundwater Hazard Statement.
The new forms should be available through any Iowa County Recorder or the Iowa Department of Natural Resources. They may also be available soon from the Iowa Department of Natural Resources website, http://www.iowadnr.gov/.
Bulletin IA2009002 contains a suggested exception to be used in commitments and policies. It has been suggested that similar language be included on any schedule of requirements, as well.
Department of Natural Resources [561]: Amended Rules (Click to View)
New GWH Statement Form - Real Estate Transfer (Click to View)
Notice of Waste Disposal (Click to View)
Instructions for Completing the Groundwater Hazard Statement (Click to View)
If you have questions related to this bulletin, please contact your local underwriting personnel or Stewart Legal Services.
For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None