Bulletin: NY000683

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Bulletin: NY000683

Bulletin Document
Date: January 25, 2023
To: All New York State Agents, Office Counsel, and Managers
RE: UNDERWRITING- New Notary Law

Dear Associates:

Kindly be advised that the purpose of this bulletin is to inform you that starting today, January 25, 2023, all notaries are required to keep a journal, regardless of whether the acknowledgment is taken in person or remotely.

PLEASE NOTIFY YOUR TITLE CLOSERS IMMEDIATELY THAT THEY MUST MAINTAIN A JOURNAL FOR ALL ACKNOWLEDGEMENTS TAKEN TODAY AND GOING FORWARD.

Additionally, notaries must register themselves as electronic notaries with the NYS Department of State if they want to be able to perform remote online notarization (“RON”) closings effective January 31, 2023. A separate bulletin will be forthcoming discussing those new regulations. A link to a FAQ regarding the new regulations can be found here: https://dos.ny.gov/important-updates-licensing

All notaries must maintain a journal, also referred to as records, and those records must be maintained for a period of TEN years, and the records must be capable of being produced to the Secretary of State and others as necessary in relation to the performance of the notary public’s obligations.

Such records shall be made contemporaneously with the performance of the notarial act and must include:

(1)   the date, approximate time, and type of notarial acts performed
(2)   the name and address of any individuals for whom a notarial act was performed
(3)   the number and type of notarial services provided
(4)   the type of credential used to identify the principal, including, for verification made where a notary relies on the oath or affirmation of two witnesses who identify themselves with a valid government issued ID and who know the document signer personally, the names of the witnesses and, if applicable, the type of credential used; and
(5)   the verification procedures used for any personal appearance before the notary public.

In the event you have any questions, kindly contact Stewart Title Legal Services for guidance at 212-922-0050.

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:
Underwriting Manual:
  • None
Exceptions Manual:
  • None
Forms:
  • None