Bulletin: NV2017003

Date:
August 14, 2017
To:
All Nevada Issuing Offices
RE:
LEGISLATIVE UPDATE - Nevada 2017 State Legislative Report

Dear Associates:

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

BILLS THAT PASSED

AB 130 [Chapter 159] revises various provisions relating to guardianships; authorizing a court to require a proposed guardian to file a proposed preliminary care plan and budget; establishing the process by which a person may obtain the approval of the court for the payment of attorney’s fees and costs from the assets of a ward; establishing the State Guardianship Compliance Office; replacing the term "incompetent” with the term “incapacitated” for purposes of guardianships and revising the definition thereof; revising various provisions relating to notice given to certain persons; revising provisions concerning the sale of real and personal property of a ward; making an appropriation; and providing other matters properly relating thereto. Sections 43.3 and 45 of this act effective June 12, 2017. Section 43.5 of this act effective on July 1, 2017. Sections 1 to 43, inclusive, and 44 of this act effective on January 1, 2018.

AB 148 [Chapter 240] increases the penalties for willful violations of certain provisions relating to notaries public and document preparation services. Effective October 1, 2017

AB 161 [Chapter 118 and 205] requires certain rental agreements to contain certain disclosures; creating certain presumptions with respect to certain crimes involving real property. Effective July 1, 2017

AB 162 [Chapter 597, 97A, 125D, 159, 202, 237, 476, 643, and 644] requires a business that accepts a driver’s license for the purpose of identification to also accept a permanent resident card for that purpose; including permanent resident cards as proof of identity for various purposes. Effective July 1, 2017

AB 169 [Chapter 247] provides that a county recorder has the discretion to accept and record a document that does not meet certain formatting requirements; revising certain fees collected by a county recorder. Effective October 1, 2017

AB 235 [Chapter 32] enacts the Uniform Commercial Real Estate Receivership Act. Effective October 1, 2017

AB 239 [Chapter 59] enacts the Revised Uniform Fiduciary Access to Digital Assets Act. Effective October 1, 2017

AB 244 [Chapter 686] authorizes certain types of insurance and insurers to give certain items and gifts not to exceed $100 in aggregate value per policyholder or insured or prospective policyholder or insured in any one calendar year. Effective July 1, 2017

AB 314 [Various Chapters] revises provisions relating to property exempt from a writ of execution; revises provisions relating to nonprobate transfers of property; establishing provisions relating to community property or separate property transferred into an irrevocable trust; revising certain definitions applicable to the administration of an estate; revising provisions relating to the revival of a will and the proving of a will as lost or destroyed; revising provisions concerning contests of wills; authorizing the extension of the period during which an agreement between an heir finder and apparent heir is void and unenforceable; revising provisions concerning special administrators and personal representatives; revising provisions relating to the filing of an inventory and appraisement or record of value of the assets of a decedent; revising provisions governing the presentation of claims against and the sale of real property of an estate; revising provisions relating to the period within which certain actions are performed; authorizing notice to be served by certified mail; revising provisions concerning fiduciaries; revising various provisions governing trusts and trustees authorizing a person to provide for the burial or cremation of his or her remains in a will or durable power of attorney. Effective October 1, 2017

AB 324 [Chapter 240A] revises the definition of a “document preparation service”; prohibiting a person providing a document preparation service from advertising or representing himself or herself as a paralegal or legal assistant; requiring certain fees to register or renew registration as a document preparation service; revising the period of time in which an application for registration as a document preparation service must be completed. Effective July 1, 2017

AB 413 [Various Chapters] establishes provisions relating to electronic wills and trusts; revising provisions governing electronic notaries public; authorizing electronic notaries public to perform authorized electronic notarial acts remotely using audio-video communication; establishing provisions concerning electronic documents relating to real property located in this State; authorizing the Secretary of State to require notaries public registering as electronic notaries public to complete an online course on electronic notarization; increasing the amount of the fees authorized to be charged by an electronic notary public for the performance of certain electronic notarial acts and authorizing the collection of a fee to recover certain costs. Sections 56 to 60, inclusive, and 63 of this act effective June 9, 2017. Sections 1 to 28, inclusive, and 61 of this act effective on July 1, 2017. Sections 29 to 55, inclusive, and 62 of this act effective: (a) June 9, 2017, for the purpose of adopting any rules and regulations and performing any other preparatory administrative tasks that are necessary to carry out the provisions of this act; and (b) on July 1, 2018, for all other purposes.

AB 476 [Chapter 240] makes various changes to the provisions governing electronic notaries public; providing a penalty. Effective July 1, 2017

SB 33 [Chapter 40, 107, 116] prohibits the foreclosure of real property owned by certain military personnel or their dependents in certain circumstances; prohibiting the foreclosure of a lien against a unit in a common-interest community owned by certain military personnel or their dependents in certain circumstances; providing a penalty. Effective May 29, 2017

SB 267 [Chapter 107, 657, 330] revises provisions governing the auction of property pursuant to the power of sale under a deed of trust; revising provisions requiring certain mortgagees and beneficiaries of a deed of trust to provide certain contact information to the Division of Financial Institutions of the Department of Business and Industry; providing for the continuation of certain provisions relating to an expedited process for the foreclosure of abandoned residential property. Effective May 25, 2017

SB 490 [Chapter 107, 100, 116] revises provisions relating to the foreclosure of real property; authorizing electronic delivery of certain notices relating to the foreclosure of real property; revising provisions relating to the Foreclosure Mediation Program; requiring Home Means Nevada, Inc., or its successor organization, to administer certain functions of the Program; replacing the Account for Foreclosure Mediation with the Account for Foreclosure Mediation Assistance; requiring the Interim Finance committee to administer the Account; providing for the continuation of the Program; requiring the State Controller to transfer money remaining in the Account for Foreclosure Mediation to the Account for Foreclosure Mediation Assistance. Effective June 12, 2017

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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:
4.20 Deeds Of Trust
 
7.12 Guardianship And Conservatorship Procedures
Exceptions Manual:
None
Forms:
None