| 1 | | - | Date of enactment: March 21, 2024 |
|---|
| 2 | | - | 2023 Senate Bill 626 Date of publication*: March 22, 2024 |
|---|
| 3 | | - | 2023 WISCONSIN ACT 129 |
|---|
| 4 | | - | AN ACT to renumber and amend 140.145 (10) (c); and to create 140.145 (10) (c) 2. of the statutes; relating to: |
|---|
| 5 | | - | notarial acts performed for remotely located individuals. |
|---|
| 6 | | - | The people of the state of Wisconsin, represented in |
|---|
| 7 | | - | senate and assembly, do enact as follows: |
|---|
| 8 | | - | SECTION 1. 140.145 (10) (c) of the statutes is renum- |
|---|
| 9 | | - | bered 140.145 (10) (c) (intro.) and amended to read: |
|---|
| 10 | | - | 140.145 (10) (c) (intro.) Any law governing the cre- |
|---|
| 11 | | - | ation and execution of powers of attorney, not including |
|---|
| 12 | | - | a any of the following: |
|---|
| 13 | | - | 1. A transaction, as defined in s. 137.11 (15). |
|---|
| 14 | | - | SECTION 2. 140.145 (10) (c) 2. of the statutes is cre- |
|---|
| 15 | | - | ated to read: |
|---|
| 16 | | - | 140.145 (10) (c) 2. A limited financial power of attor- |
|---|
| 17 | | - | ney for a real estate transaction. |
|---|
| 18 | | - | * Section 991.11, WISCONSIN STATUTES: Effective date of acts. “Every act and every portion of an act enacted by the legislature over the governor’s |
|---|
| 19 | | - | partial veto which does not expressly prescribe the time when it takes effect shall take effect on the day after its date of publication.” |
|---|
| 1 | + | LRB-4105/1 |
|---|
| 2 | + | ARG:skw |
|---|
| 3 | + | 2023 - 2024 LEGISLATURE |
|---|
| 4 | + | 2023 SENATE BILL 626 |
|---|
| 5 | + | November 7, 2023 - Introduced by Senators QUINN, BALLWEG, NASS, ROYS and |
|---|
| 6 | + | MARKLEIN, cosponsored by Representatives SUMMERFIELD, DITTRICH, |
|---|
| 7 | + | O'CONNOR, RETTINGER and WICHGERS. Referred to Committee on Financial |
|---|
| 8 | + | Institutions and Sporting Heritage. |
|---|
| 9 | + | ***AUTHORS SUBJECT TO CHANGE*** |
|---|
| 10 | + | AN ACT to repeal 140.145 (10) (c) of the statutes; relating to: notarial acts |
|---|
| 11 | + | performed for remotely located individuals. |
|---|
| 12 | + | Analysis by the Legislative Reference Bureau |
|---|
| 13 | + | This bill allows a notary public to perform a notarial act for a remotely located |
|---|
| 14 | + | individual involving the creation and execution of a power of attorney. |
|---|
| 15 | + | Under current law, the Department of Financial Institutions issues |
|---|
| 16 | + | commissions to notaries public. If certain conditions are satisfied, a notary public |
|---|
| 17 | + | may perform a notarial act with respect to an individual who is not in the physical |
|---|
| 18 | + | presence of the notary public (remote notarization). However, remote notarization |
|---|
| 19 | + | is not available for certain transactions, including transactions governed by laws |
|---|
| 20 | + | relating to the creation and execution of wills and trusts; marital property |
|---|
| 21 | + | agreements; health care powers of attorney; and other powers of attorney unless the |
|---|
| 22 | + | transaction is between two or more persons relating to the conduct of business, |
|---|
| 23 | + | commercial, or governmental affairs. |
|---|
| 24 | + | The bill removes the exclusion described above for transactions related to |
|---|
| 25 | + | powers of attorney that are not health care powers of attorney, thereby allowing |
|---|
| 26 | + | remote notarization in connection with these transactions. |
|---|
| 27 | + | The people of the state of Wisconsin, represented in senate and assembly, do |
|---|
| 28 | + | enact as follows: |
|---|
| 29 | + | 1 |
|---|
| 30 | + | 2 - 2 -2023 - 2024 Legislature LRB-4105/1 |
|---|
| 31 | + | ARG:skw |
|---|
| 32 | + | SECTION 1 SENATE BILL 626 |
|---|
| 33 | + | SECTION 1. 140.145 (10) (c) of the statutes is repealed. |
|---|
| 34 | + | (END) |
|---|
| 35 | + | 1 |
|---|
| 36 | + | 2 |
|---|