Legislative Developments 9-26-2022

Legislative Developments 9-26-2022

Article 9 and Lien-Related Legislation

California:  AB 1766, which would amend the definition of “driver’s license and identification card” set forth in the state’s UCC § 9-503(h), passed the Senate as amended on 8/29/2022 and the Assembly concurred on 8/30/2022.  The amended definitions would include an identification card issued to a person who is unable to submit satisfactory proof that the applicant’s presence in the United States is authorized under federal law.  The bill is awaiting action by the governor.   

Other Uniform Laws Legislation

Michigan:  The governor signed HB 4618 (2021) on July 19, 2022 to amend the Uniform Voidable Transactions Act so it conforms with the Qualified Dispositions in Trust Act.  The new law took effect immediately.     

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

California: SB 786,  which would authorize a county recorder to issue a certified copy of a birth, death, or marriage record by means of blockchain technology, passed the Assembly on 8/30/2022.  The Senate concurred in the Assembly amendments on 8/30/2022.  The bill is awaiting action by the governor.   

United States:  HB 7338, which would require the State Department to notify congress of the payment of a reward using cryptocurrency and establish a director of digital currency security, passed the House on 9/19/2022 and is pending in the Senate.   

United States:  HB 7900, which would create a national research and development strategy for distributed ledger technology, passed the House on 7/14/2022 and is pending in the Senate.   

Business Organization Legislation

Delaware:  The governor signed SB 284 on 7/27/2022 to amend the Statutory Trust Act. The amendments address management of statutory trusts and authority of trustees.  Portions of the new law took effect on 8/1/2022 and the remaining portions take effect on 8/1/2023.

Notary Legislation

Delaware:  The governor signed SB 262 on 9/9/2022 to adopt the Revised Uniform Law on Notarial Acts (RULONA).  The bill includes the recent amendments to RULONA that permit remote notarization and includes remote notarization of tangible documents.  The bill also requires a notary to keep a journal of all notarial acts and provides new licensing procedures for notaries public.   The new law takes effect on 8/1/2023.

District of Columbia:  The mayor signed B 457 (2021) on 7/29/2022 to update the Revised Uniform Law on Notarial Acts (RULONA).  The updates allow a notary to certify a paper copy of an electronic record and provide for remote notarization.  The new law will take effect following a 30-day congressional review and publication in the DC Register.

Massachusetts: House Bill 5076 was introduced on 7/22/2022 to provide for remote notarization and regulation of notaries public authorized to perform remote notarization. However, the bill was amended and later substituted with new text that removed the notary provisions.

Massachusetts: Senate Bill 3086 was introduced on 7/30/2022 to update notary laws and provide for remote notarization.  The bill passed the Senate Ways and Means Committee the same day and is pending further action in the Senate.

United States:  HB 3962, which would enact the SECURE Notarization Act of 2022, passed the House 7/27/2022 and is now pending in the Senate Judiciary Committee.  If enacted, the bill would authorize electronic and remote notarization for use in interstate commerce.   

Real-Estate-Recording-Related Legislation

No developments to report at this time.    

Other Items/Legislation of Interest

No developments to report at this time.    

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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.