Article 9 and Lien-Related Legislation

No developments to report.

Other Uniform Laws Legislation

Rhode Island: The governor signed both HB 5511 and SB 451 on 7/13/2021 to correct some drafting oversights from the state’s adoption of UCC Article 7. The corrections add the official text to certain UCC Article 1 definitions. The bills also amend the Article 1 definitions of “bearer” and “holder” to include a person in control of a negotiable electronic document of title. The bills define “delivery” to include the transfer of control of a negotiable electronic document of title. Finally, the bills add a definition for “document of title.” The new law took effect immediately.

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

Connecticut: The governor signed SB 1039 on 7/12/2021 to address government incorporation of blockchain technology. The new law requires the Department of Administrative Services to issue a request for information for the incorporation of blockchain technology to make a state administrative function more efficient or cost effective. In addition, the Department of Economic and Community Development must develop a plan to promote existing remote work workspaces and incentivize the creation of new remote work workspaces. The new law took effect immediately and the required actions by the departments are due on 1/1/2022.

Pennsylvania: House Bill 1724 was introduced on 7/19/2021 to establish the Digital Currency Task Force. The task force would be composed of various government officials and others appointed by the governor and legislature. The purpose of the task force is to review digital currency developments and make legislative and regulatory recommendations to increase transparency and security, enhance consumer protections and to address the long-term impact on the use of cryptocurrency. The bill was assigned to the House Commerce Committee.

Business Organization Legislation

No developments to report.

Notary Legislation

Illinois: The governor signed SB 2664 on 7/23/2021 to authorize electronic and remote notarization. The act also provides for the regulation of electronic and remote notaries. The new law takes effect on the later of 1/1/2022 or the date on which the secretary of state adopts rules pursuant to the act. Certain sections have a delated effective date of 7/1/2022.

New Jersey: The governor signed AB 4250 (2020) on 7/22/2021 to adopt RULONA with the 2018 amendments that authorize electronic signatures and remote online notary. The new law takes effect on 10/20/2021, except for new education and testing requirements that take effect on 7/22/2022.

Pennsylvania: Senate Bill 807 was introduced on 7/7/2021 to amend requirements for registration of a notary’s signature. The bill was assigned to the Senate State Government Committee.

Real-Estate-Recording-Related Legislation

Hawaii: The governor signed HB 244 on 7/6/2021 to amend the data required for land recordation by the bureau of conveyances. Specifically, it amends the data required for a request to de-register registered land, including the requirement to include a map and description prepared by a licensed surveyor. The new law had an effective date of 7/1/2021.

Other Items/Legislation of Interest

No developments to report.

………………………..

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.

Legislative Developments 8-3-21