Article 9 and lien-related legislation
Florida: The governor signed Senate Bill 984 on 6/12/2024 to amend judgment lien law. The new law authorizes a judgment lien to be acquired on specified personal property and in all payment intangibles and accounts of a judgment debtor whose location is in the state. The new law takes effect on 7/1/2024.
Other uniform laws legislation (includes the 2022 amendments to the Uniform Commercial Code (UCC) with UCC Article 12-Controllable Electronic Records)
New York: Assembly Bill 10579 was introduced on 6/20/2024 to enact the 2022 Amendments to the UCC, including UCC Article 12-Controllable Electronic Records, and related amendments.
Rhode Island: The governor signed House Bill 7210 on 6/10/2024 to enact the 2022 Amendments to the UCC, including UCC Article 12-Controllable Electronic Records, and related amendments. The new law took effect upon passage.
Rhode Island: The governor signed Senate Bill 2781 on 6/10/2024 to enact the 2022 Amendments to the UCC, including Article 12, Controllable Electronic Records and conforming amendments. The new law took effect upon passage.
Emerging technology legislation (blockchain, distributed ledger technology, cryptocurrency, etc.)
Oklahoma: The governor signed House Bill 1600 (2023) on 6/14/2024. This bill adopts the Commercial Digital Asset Mining Act of 2023, which provides tax incentives for commercial digital mining operations by treating them in the same manner as historic forms of manufacturing or industrial processing. The new law takes effect on 11/1/2024.
Business organization legislation
Delaware: Senate Bill 313, which would amend the general corporation law, passed the Senate on 6/13/2024, passed the House on 6/20/2024 and is pending delivery to the governor. The amendments make changes regarding contracts between a corporation, its shareholders and beneficial owners.
Rhode Island: House Bill 8116, which would repeal and replace the state’s Limited Liability Company Act with a newer and updated model act, passed the House on 6/10/2024.
Notary legislation
No developments to report.
Real estate recording-related legislation
Michigan: House Bill 5598, which would provide that a person who knowingly and willfully drafts or submits a fraudulent document to be filed and recorded with a register of deeds is guilty of a felony, passed the House on 6/13/2024 and was sent to the Senate. The bill would make a violation of the act punishable by imprisonment for not more than 10 years, a fine of not more than $5,000, or both.
Rhode Island: The House concurred in Senate amendments to House Bill 7867 on 6/10/2024 and the governor signed the bill on 6/17/2024. This new law requires the recording of condominium bylaws and rules of the association. The bylaws and rules must be recorded in the land evidence records of the city or town where the condominium is located and require amendments to the original filings to be certified by two (2) or more members of the executive board. The new law took effect immediately.
Other items and legislation of interest
No developments to report.
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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.
