Bulletin: AZ2017002

Date:
August 14, 2017
To:
All Arizona Issuing Offices
RE:
LEGISLATIVE UPDATE - Arizona

Dear Associates:

The Arizona Legislature adjourned its 2017 regular session sine die in the early evening of May 10, 2017, after 122 days in session. This year, the Legislature introduced 1079 bills, sent 355 bills to the Governor's desk, 344 were signed into law, and 11 were vetoed. 

The following is a summary of legislation that was passed during the 2017 legislative session.   

BILLS THAT PASSED 

Bills listed below will become effective on August 9, 2017, unless otherwise noted. 

HB 2067 (real estate licensing; applicability; exemption) [Chapter 123] Exempts an employee hired by a real estate licensee to perform clerical or administrative duties from the ADRE licensing requirements. Amends Section 32-2121, Arizona Revised Statutes.

HB 2072 (manufactured homes; real estate transactions) [Chapter 25]  Authorizes a real estate broker or salesperson licensed by ADRE to sell manufactured homes and mobile homes located in a mobile home park without first being licensed by ADOH. Amends Section 41-4028, Arizona Revised Statutes.

HB 2157 (private property access; right-of-way) [Chapter 214] Requires the state or any political subdivision to grant a nonexclusive right-of-way for at least 30 years to a private property owner to provide legal access to their property that is surrounded by land owned by the state or political subdivision. Exempts the state from historic property preservation requirements if the right-of-way has been in use by the property owner and new road construction is not necessary. Amends section 33-2401, Arizona Revised Statutes.

HB 2417 (signatures; electronic transactions; blockchain technology) [Chapter 97]Classifies a signature, record or contract secured through blockchain technology as an official electronic form of signature or record. Authorizes a smart contract in commerce transactions and confirms the validity, which cannot be denied legal standing or enforceability solely due to its smart contract term. Amends Section 44-7003; Title 44, Chapter 26, Arizona Revised Statutes.   

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THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
12.24 Mobile And Manufactured Homes
Exceptions Manual:
None
Forms:
None