Article 9 and Lien-Related Legislation
No developments to report this week.
Other Uniform Laws Legislation
No developments to report this week.
Emerging Technology Legislation (Blockchain, DLT, Cryptocurrency, etc.)
Michigan: House Resolution 119 was introduced on 6/2/2021 to declare June 2021 as Cryptocurrency Education Month. The bill was assigned to the House Financial Services Committee.
New Jersey: AB 1178, a 2020 carryover bill that would allow corporations to utilize electronic networks, including distributed electronic networks, in order to meet recordkeeping requirements, passed the Senate on 6/3/2021 and is pending delivery to the governor.
New York: Assembly Bill 7866 was introduced on 5/28/2021 to direct the state energy and redevelopment authority to study the powering of cryptocurrency mining operations using renewable energy. The bill was assigned to the Assembly Energy Committee.
Business Organization Legislation
No developments to report this week.
Notary Legislation
Illinois: The Senate concurred in House amendments to SB 2664 on 5/30/2021. This bill includes provisions that would authorize electronic and remote notarization. The bill also provides for the regulation of electronic and remote notaries. The bill is now pending delivery to the governor.
Illinois: The governor signed SB 72 on 5/28/2021 to adopt the Electronic Wills and Remote Witnessing Act. Among other provisions, the act provides that an electronic will is a digital asset. In addition, it authorizes and establishes the requirements for remote witnessing of a document using AV technology. The new law takes effect on 7/1/2021.
Louisiana: The governor signed HB 307 on 6/1/2021 to repeal are requirement for certain notary applicants to pass a written exam administered by the secretary of state and the reporting requirements for providers of notarial courses of instruction. The new law took effect immediately.
Maine: Two significant notary measures failed this week. HB 660, which would have addressed remote notarial acts under emergency orders by adopting RULONA provisions, died in committee on 6/2/2021. Likewise, SB 154 failed in committee. It would have required the legislature to examine the experiences of notaries public who have been allowed to remotely notarize documents pursuant to the Governor’s emergency orders and determine whether to continue the authorization of remote notarization of documents under limited circumstances.
Nevada: The governor signed AB 245 on 5/29/2021 to increase the fees a notary may charge for certain acts. The bill also increases the fee charged to a person who wishes to operate a document preparation service from $50 to $100. The new law takes effect on 7/1/2021.
New Hampshire: SB 134, which would amend the state’s Uniform Law on Notarial Acts to provide for electronic signatures and electronic notarial acts, passed the House as amended on 6/3/2021 and was returned to the Senate for concurrence. The bill also enacts URPERA. The most recent amendments to the bill have one significant impact on the state’s notary law. The amendments adopted in the House change the definition of “electronic signature” from the definition found in UETA, URPERA, RULONA and other uniform acts. Instead, the amendment defines “electronic signature” to mean a unique sequence of data that is split into 2 parts that together form a complete encryption key. One part is publicly shared and the other part is kept private and known only by the owner.
New York: SB 1780, which would provide for electronic and remote notarization, passed the Senate on 3/24/2021 but was later returned by the Assembly. The bill passed the Senate again on 6/1/2021 with amendments and is now pending in the Assembly Governmental Operations Committee.
Oregon: SB 220, which would prescribe formalities for remote attestation of a writing, passed the House on 6/1/2021 and is pending delivery to the governor.
Oregon: SB 765, which would make permanent provisions related to tangible copies of electronic records, passed the House on 6/2/2021 and is now pending delivery to the governor. The bill would allow a notary to certify a tangible copy of an electronic record and authorize a county clerk to record a tangible copy of an electronic record certified by a notary.
Real-Estate-Recording-Related Legislation
Nevada: The governor signed AB 325 on 5/31/2021 to provide for the recording of a certified paper copy of an electronic record. The new law takes effect on 7/1/2021.
Other Items/Legislation of Interest
New York: SB 4611, which would amend the public authorities law to require disclosure of beneficial ownership information for an entity to which ownership of property is transferred, passed the Senate on 6/3/2021 and is now pending in the Assembly Corporations, Authorities and Commissions Committee.
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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.