Article 9 and lien-related legislation
No developments to report.
Other uniform laws legislation [includes the 2022 amendments to the Uniform Commercial Code (UCC) with UCC article 12-Controllable Electronic Records]
Louisiana: House Bill 232, which would amend the state’s version of UCC Articles 3 and 4 regarding transfer and presentment warranties, passed the Senate on 5/14/2024. The bill would make the warrantor liable for expenses and attorney’s fees for failure to pay a claim within 30 days of demand. The bill is pending delivery to the governor.
Rhode Island: Senate Bill 2781, which would enact the 2022 Amendments to the UCC, including Article 12-Controllable Electronic Records and conforming amendments, passed the Senate on 5/16/2024 and is pending in the House.
Emerging technology legislation (blockchain, distributed ledger technology, cryptocurrency, etc.)
Oklahoma: The governor signed House Bill 3594 on 5/13/2024 to limit government regulation of blockchain and digital asset mining (originally introduced as the Blockchain Basics Act). This new law provides that (i) an individual may engage in home digital asset mining; (ii) a digital asset mining business may operate in any area zoned for industrial use; (iii) local government has limited ability to regulate digital asset mining; and (iv) state and local government have limited ability to impose additional taxes or charges on controllable electronic records used as a method of payment. The new law takes effect on 11/1/2024.
Business organization legislation
Delaware: House Bill 338, which would make various updates to the statutory trust law, passed the Senate on 5/16/2024 and is awaiting delivery to the governor.
Notary legislation
No developments to report.
Real estate recording-related legislation
Alaska: Senate Bill 179, which would prohibit a city and the state from levying a tax on the transfer of real property, passed the House with amendments on 5/14/2024. The Senate concurred in the House amendments on 5/15/2024 and the bill is now awaiting delivery to the governor.
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.
