7/21/21 9:45 AM

July 2021 State Regulatory Compliance Updates

Check out information on the New York's Statutory Short Form Power of Attorney plus updates for New Jersey.

New York

  • The revisions to the New York Statutory Short Form Power of Attorney and certain provisions of Sections 5-1501 through 5-1514 of the General Obligations Law (GOL), which will be effective for all POAs signed on or after June 13, 2021, are intended to simplify the current POA. More information is available on the New York State government website.

New Jersey

  • New Jersey Insurance Rating Bureau Filing 2020-01, approved forms and manual of rate changes effective September 1, 2021:
    • 2-19 ALTA Short Form Residential Loan Policy - Current Violations (04/02/2015)(New Jersey Variation) 2/15/2016 revised 7/1/2018 revised 9/1/2021
    • 5-181 ALTA Endorsement 40-06 Tax Credit Endorsement 9/1/2021
    • 5-182 ALTA Endorsement 40.1-06 Tax Credit - Defined Amount Endorsement 9/1/2021
    • 5-183 ALTA Endorsement 42-06 Commercial Lender Group Endorsement 9/1/2021

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