Article 9 and Lien-Related Legislation
Connecticut: House Bill 6469 was introduced on 1/23/2023 to require a sixty-day prior notice period and appeal opportunity before any lien on real property becomes effective. The bill was assigned to the Joint Judiciary Committee.
Other Uniform Laws Legislation (Includes the 2022 Amendments to the UCC with UCC Article 12―Controllable Electronic Records)
Hawaii: House Bill 525 was introduced on 1/19/2023 to enact the 2022 Amendments to the Uniform Commercial Code (UCC), including UCC Article 12, Controllable Electronic Records, and related amendments. Committee assignment is pending. This is similar to Senate Bill 352, which was reported last week.
Tennessee: Senate Bill 479 was introduced on 1/25/2023 to enact the 2022 Amendments to the UCC, including UCC Article 12, Controllable Electronic Records, and related amendments. Committee assignment is pending. A companion bill was introduced in the House as House Bill 640 on 1/26/2023 and is also pending committee assignment.
Emerging Technology Legislation (Blockchain, DLT, Cryptocurrency, etc.)
Arizona: Senate Bill 1235 was introduced on 1/24/202 to make Bitcoin legal tender in Arizona. The bill also provides that “legal tender” includes coins having precious metal content that a court rules are within the state’s authority to make legal tender. The bill was assigned to the Senate Finance Committee.
Arizona: Senate Bill 1236 was introduced on 1/24/2023 to prohibit local governments from imposing taxes or fees on the use of blockchain technology. The bill was assigned to the Senate Finance Committee.
Nebraska: Legislative Bill 674 was introduced on 1/18/2023 to amend various provisions related to banks and banking laws, including the Nebraska Financial Innovation Act adopted in 2021. The amendments update provisions related to digital asset repositories and substitute “controllable electronic records” for “cryptocurrency.” The bill was assigned to the Banking, Commerce and Insurance Committee.
New York: Assembly Bill 2318 was introduced on 1/25/2023 to require certain disclosures in advertising regarding virtual tokens. The bill was assigned to the Assembly Science and Technology Committee.
New York: Assembly Bill 2566 was introduced on 1/26/2023 to establish a task force that will assess the feasibility, economic impacts, and effectiveness of the implementation of blockchain technology in state record keeping, information storage, and service delivery. The bill is pending in the Assembly Governmental Operations Committee.
New York: Assembly Bill 2643 was introduced on 1/26/2023 to provide that signatures secured using blockchain technology are considered to be in electronic form and electronic signatures. Likewise, a record secured through blockchain technology is considered to be in electronic form and an electronic record. The bill also provides that a smart contract may not be denied legal effect solely because it contains a smart contract term. The bill is pending in the Assembly Governmental Operations Committee.
Oklahoma: House Bill 1600 was pre-filed on 1/18/2023 to adopt the Commercial Digital Asset Mining Act of 2023. The bill would provide tax incentives for commercial digital mining operations by treating them in the same manner as historic forms of manufacturing or industrial processing. Committee assignment is pending. A similar bill was pre-filed in the Senate the same day as Senate Bill 750 and is also pending introduction.
Texas: House Bill 1666 was introduced on 1/26/2023 to regulate digital asset service providers. The bill would prohibit a digital asset service provider from commingling customer funds with the digital asset service provider’s own funds. It would also require a digital asset service provider to meet certain reserve requirements, develop certain plans, and make reports to the department of banking. In addition, the bill would require a digital asset service provider to obtain a money transmission license. Committee assignment is pending.
Utah: House Bill 289 was introduced on 1/24/2023 to create a registry for non-custodial blockchain companies in the state. Committee assignment is pending.
Wyoming: House Bill 86, which deals with privacy of digital keys, passed the House on 1/24/2023. The bill would provide that no person shall be compelled to produce a private key or make a private key known to any other person in any civil, criminal, administrative, legislative, or other proceeding in the state that relates to a digital asset, digital identity, or other interest or right to which the private key provides access unless a public key is unavailable or unable to disclose the requisite information with respect to the digital asset, digital identity, or other interest or right. Committee assignment is pending in the Senate.
Wyoming: Senate Bill 76, which would provide for the registration of digital assets, passed the Senate on 1/26/2023 and is pending in the House. The bill provides for registration of digital assets with the secretary of state. Upon registration, digital assets shall be deemed located in the state for purposes of the state’s laws which may impact ownership rights of the digital asset or require transfer of the digital asset.
Business Organization Legislation
Washington: Senate Bill 5004, which would make several changes to the state Business Corporation Act, passed the Senate on 1/25/2023 and is pending in the House.
Notary Legislation
Hawaii: House Bill 964 was introduced on 1/23/2023 to increase the fee for each apostille or non-apostille certification to $10. Committee assignment is pending.
New Mexico: Senate Bill 246 was introduced on 1/26/2023 to amend the Revised Uniform Law on Notarial Acts (RULONA). The amendments provide for “automatic notarial officers” who are judicial officers, county clerks, and licensed attorneys. The bill makes various other clarifications and changes, including to provisions regarding personal appearances, the official stamp, and other notary regulation matters. The bill is pending in the Senate Judiciary Committee and Health and Public Affairs Committee.
New York: Assembly Bill 1896 was introduced on 1/23/2023 to amend various laws to permit online notarization for a remotely located individual. The bill is pending in the Assembly Governmental Operations Committee.
North Dakota: HB 1054, which would provide a form of application for a notary commission and provide that a notary commission may be renewed within 60 days of expiration in the same manner as an original commission, passed the House on 1/26/2023 and is now pending in the Senate.
Oklahoma: House Bill 2621 was pre-filed on 1/19/2023 to adopt the Oklahoma Notary Services Act of 2023. The full text of the bill is not yet available. Committee assignment is pending.
Real Estate Recording-Related Legislation
Connecticut: House Bill 6387 was introduced on 1/20/2023 to require the disclosure of certain natural person ownership interests in real property. The full text of the bill is not yet available. The bill was assigned to the Joint Housing Committee.
Iowa: House Bill 111 was introduced on 1/25/2023 to exempt deeds that transfer assets to the beneficiaries of a trust from the real estate transfer tax. Committee assignment is pending.
New York: Senate Bill 2948 was introduced on 1/26/2023 to prohibit a recording officer from accepting any conveyance of real estate unless such conveyance document or accompanying addendum contains an explicit statement in bold text that “YOU ARE HEREBY MADE AWARE THAT BY SIGNING THIS DEED YOU ARE TRANSFERRING OWNERSHIP OF YOUR LAND OR HOME” and contains the notarized signature of the transferor. The bill is pending in the Senate Judiciary Committee.
Tennessee: Senate Bill 337 was introduced on 1/23/2023 to require that a register of deeds offer a property fraud alert program if the county appropriates funds to cover the costs of the program. Committee assignment is pending. This appears similar to House Bill 97, which was introduced earlier this month.
Tennessee: Senate Bill 368 was introduced on 1/23/2023 to prohibit the recording of deceptive service agreements, set statutory damages for a violation, and offer remedies for a person with an interest in the property subject to such agreement. Committee assignment is pending.
Other Items and Legislation of Interest
Maine: Senate Bill 255 was introduced on 1/24/2023 to establish consumer expectations of privacy. The definition of “consumer” exempts individuals acting in a commercial or employment context. Committee assignment is pending.
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Note that this update provides only a short summary of the listed bills, which are often lengthy and complex. It is not intended to include all potentially relevant provisions of each bill. For full details, please review the bill on the applicable state legislative web site.