Q2 Jurisdictional Updates: Part II

Legislation Signing Document

Here is the second part of our 2 part Jurisdictional Updates. If you missed our first update, you can view that here. As mentioned in our previous post, there are many changes to be had. With so many pending changes we will only be focusing on passed legislation.

New Mexico

SB 12 – The governor signed on April 5, 2021, to adopt the Revised Uniform Law on Notarial Acts, including the remote notary provisions. The new law takes effect on January 1, 2022.

HB 66 – The governor signed on April 6, 2021, to add definitions for “good faith” and “public-finance transaction” to the state’s UCC § 9-102. The bill also contains a provision that would exclude public-finance transactions from the scope of Article 9 in § 9-109. The new law takes effect 90 days after the legislature adjourns.

New York

SB 297 – Added new UCC Article 12 to address discontinuance of LIBOR was amended in the Senate Judiciary Committee on March 1, 2021. The committee amendments retain LIBOR provisions but move them to new Article 18-C of the general obligation laws rather than placing them in the UCC.

AB 164 – The governor signed on April 6, 2021, to address the discontinuance of LIBOR. The bill originally added new UCC Article 12 with respect to LIBOR but was later amended to move the LIBOR provisions to new Section 18-C of the general obligations law. The new law took effect immediately.

North Carolina

HB 196 – The governor signed on March 11, 2021, to extend the emergency authority for remote notarial acts through the end of 2021. The new law took effect immediately.

North Dakota

HB 1251 – The governor signed on March 25, 2021, to extend the time limit for bringing an action upon a judgment or a contract contained in a mortgage and other real estate instrument from 10 to 20 years. The bill also extends the duration and effectiveness of a judgment lien from 10 to 20 years. The new law takes effect on August 1, 2021, with repeal of certain existing law to be effective on August 1, 2031.

Oklahoma

HB 2397 – The governor signed HB 2397 on April 27, 2021, to provide that a lienholder is subject to the same release and satisfaction obligation upon payment in full of the obligation as would apply to a mortgagee. The new law takes effect on November 1,2021.

HB 2398 – The governor signed on April 17, 2021, to provide that a judgment lienholder is subject to the same release and satisfaction obligation upon payment in full of the obligation as would apply to a mortgagee and authorizes the mortgagor, debtor, or agent of the mortgagor or debtor to demand release of the mortgage. The new law takes effect on November 1, 2021.

SB 228 – The governor signed on April 19, 2021, to amend the state General Corporation Act. The amendments permit electronic transmission of consents and several other changes. The new law takes effect on November 1, 2021.

Legislative building

South Dakota

SB 193 – Governor signed on March 18, 2021, to amend certain remote notarization provisions in state law. The bill would clarify the meaning of “personal knowledge” and “video communication technology,” as well as provide a new certificate of acknowledgment for use with video communication technology. The new law takes effect on July 1, 2021.

Tennessee

The governor signed SB 509 on April 28, 2021, to amend existing law so that a notary public is authorized to solemnize a marriage. The new law took effect immediately.

Utah

HB 107 – The governor signed on March 11, 2021, to amend the requirements for the recording of a subdivision plat. The new law takes effect 60 days after adjournment.

HB 217 – The governor signed on March 22, 2021, to create a regulatory sandbox program for innovative services. The new law takes effect 60 days after the legislature adjourns.

HB 276 – The governor signed on March 16, 2021, to extend eligibility requirements for a notary commission to persons employed in the state. The new law takes effect 60 days after adjournment.

SB 201 – The governor signed on March 17, 2021, to eliminate the need to publish certain legal notices in a newspaper and instead to require posting to the Utah Public Notice Website. The new law takes effect 60 days after adjournment.

Virginia

HB 1882 – On February 25, 2021, the governor signed the new law which amends content requirements for a refinance mortgage and clarifies the effect of amendments to loan documents on a recorded deed of trust. The new law takes effect on July 1, 2021.

HB 2064 – The governor signed on March 11, 2021, to require a clerk’s office to record a paper copy of an electronic document if the document otherwise meets the requirements for recordation. The new law took effect upon passage.

HB 2099 – The governor signed on March 31, 2021, to address limitations for bringing an action to enforce a judgment. The new law will reduce the period for enforcement of certain judgment liens. Portions of the new law take effect on July 1, 2021, with the remainder taking effect on January 1, 2022.

HB 2121 – The governor signed on March 31, 2021, to amend business organization laws so certain provisions related to entity conversions, the resignation of registered agent, name restrictions, cancellations, etc. are made consistent for various kinds of entities. The new law takes effect on and applies to actions taken after July 1, 2021.

Washington

HB 5005 – The governor signed on April 16, 2021, to amend business corporation laws to provide for electronic notices in certain circumstances. The new law takes effect 90 days after the legislature adjourns.

SB 5019 – The governor signed on April 26, 2021, to direct the secretary of state to establish regulations that will make recording standards uniform from county to county and revise law applicable to recording standards commission. The new law takes effect 90 days after the legislature adjourns.

Legislative hammer

SB 5355 – The governor signed on April 16, 2021, to establish a wage lien for unpaid wages due to an employee. The bill provides that wage liens against real property are perfected by recording a Claim of Wage Lien form with the applicable county and such liens against personal property are perfected by filing a UCC financing statement with the Department of Licensing. The bill also provides a Claim of Wage Lien form. The new law takes effect on January 1, 2022.

West Virginia

SB 182 – The governor signed on March 31, 2021, to authorize the Secretary of State to promulgate a legislative rule relating to guidelines and standards for electronic notarization. The new law takes effect June 28, 2021.

SB 469 – The governor signed on March 30, 2021, to permit the personal appearance before a notary by video technology. The new law takes effect on June 28, 2021.

Wyoming

HB 43 – The governor signed on April 8, 2021, to amend state law regarding digital assets. The new law (i) amends the definition of “digital assets”; (ii) amends provisions for perfection of a security interest in digital assets; and (iii) establishes what constitutes possession of a digital asset. The new law takes effect on July 1, 2021.

HB 64 – Amendments to the Uniform Fraudulent Transfer Act, passed the Senate on March 29, 2021, and was signed by the governor on April 1, 2021. They shorten the time period for extinguishing certain claims and other actions related to fraudulent transfers. The new law takes effect on July 1, 2021.

HB 142 – Require the secretary of state to implement a filing system for all records required by law to be filed with the Secretary of State, passed by the House on March 23, 2021, and is now pending in the Senate Appropriations Committee. Under this bill, the filing system shall include an application programming interface, security measures, authenticated digital corporate identity, and other components determined by the secretary of state to be best practices or likely to increase the effective and efficient administration of the laws. The bill authorizes the Secretary of State to use blockchain or other distributed ledger technology.

SB 29 – The governor signed on February 9, 2021, to enact RULONA, including remote notarization provisions. The new law takes effect on July 1, 2021.

SB 39 – Adopts the Digital Identity Act, passed the House on March 29, 2021, and was signed by the governor on April 1, 2021. This bill establishes when the acts of digital identity are attributable to the natural person or organization. The new law takes effect on July 1, 2021.