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Legislative Developments 6-3-2022

Article 9 and Lien-Related Legislation

Minnesota: The governor signed HB 3400 on 6/2/2022 to address fraudulent UCC filing.  The bill is substantially based on the hip-pocket amendments to UCC Article 9.   The new law takes effect on 8/1/2022. 

North Carolina:  Senate Bill 853 was introduced on 5/27/2022 to establish an employee wage lien that is perfected by filing a financing statement under the UCC.  Committee assignment is pending.   

Other Uniform Laws Legislation

No developments to report this week.

Emerging Technology Legislation (Blockchain, DLT, Cryptocurrency, etc.)

Louisiana:  HCR 103, which would direct the Cash Management Review Board to meet, establish, and function as the  Louisiana Digital Assets Working Group, passed the Senate on 6/2/2022.  If adopted, the Working Group will research, report, and make recommendations relative to the use of digital assets in the state and submit its findings to the state treasurer. 

Louisiana:  HB 802, which would authorize banks to provide custodial services for digital assets, passed the Senate on 6/1/2022, as amended.  The House concurred in the Senate amendments on 6/2/2022.  The bill is pending delivery to the governor.  

Business Organization Legislation

No developments to report this week.    

Notary Legislation

Louisiana:  The governor signed HB 903 on 5/25/2022 to change current law regarding the location of a remote notarial act.  The bill provides that a remote online notarial act is deemed to be executed in the parish where the notary public is physically located at the time of the remote online notarization.  The remote notary must also have jurisdiction in the designated parish.  The new law takes effect on 8/1/2022.

Maryland:  HB 663 and its cross-filed bill SB 317, which amend the notary law, became law without the governor’s signature on 5/30/2022 and took effect on 6/1/2022.  The new laws  (i) increase the maximum fee a notary may charge from $4 to $25; (ii) eliminate the will and trust exception to the acts notaries are authorized to perform remotely; and (iii) provide for remote notarization of a tangible record.    

New York:  Assembly Bill 10516 was introduced on 5/31/2022 to impose new duties on notaries public with respect to documents that convey residential real property.  The bill would require a notary to maintain a journal of such notarial acts and perform a colloquy with the principal.  The bill would also require the secretary of state to create a program for educating notaries on these new duties.  A notary that does not take the program will be deemed unqualified to certify any conveyance of residential real estate and any such document conveying such real property by the notary public will be voidable.  The bill was assigned to the Assembly Judiciary Committee.   

Vermont: The governor signed HB 512 on 6/2/2022 to adopts the Revised Uniform Law on Notarial Acts (RULONA) and URPERPA (see below under Real-Estate-Recording-Related Legislation).  The new law takes effect on 7/1/2022.

Real-Estate-Recording-Related Legislation

Illinois:  The governor signed HB 4270 on 5/27/2022 to provide for the form and effect of a special warranty deed.  The new law takes effect on 1/1/2023.     

Louisiana:  HB 57, which would address issues related to homeowners association liens, passed the Senate on 6/2/2022 and is awaiting delivery to the governor. The bill, as amended during the legislative process, would shorten the time in which a homeowners association must file suit to enforce a lien from 5 years to 1 year and provide for a demand notice requirement to the property owner.

Vermont: The governor signed HB 512 on 6/2/2022 to adopt the Uniform Real Property Electronic Recording Act (URPERPA) in addition to RULONA.  The bill would have also established a municipal Land Records Management Office at the secretary of state to oversee the management of municipal land records but the bill was amended to remove that provision. The new law takes effect on 7/1/2022.

Other Items/Legislation of Interest

No developments to report this week.    


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.