LRBs0195/1
ARG:cjs
2023 - 2024 LEGISLATURE
SENATE SUBSTITUTE AMENDMENT 1,
TO SENATE BILL 626
December 11, 2023 - Offered by Senator Quinn.
SB626-SSA1,1,3
1An Act to renumber and amend 140.145 (10) (c); and
to create 140.145 (10)
2(c) 2. of the statutes;
relating to: notarial acts performed for remotely located
3individuals.
Analysis by the Legislative Reference Bureau
This bill allows a notary public to perform a notarial act for a remotely located
individual involving the creation and execution of a limited financial power of
attorney for a real estate transaction.
Under current law, the Department of Financial Institutions issues
commissions to notaries public. If certain conditions are satisfied, a notary public
may perform a notarial act with respect to an individual who is not in the physical
presence of the notary public (remote notarization). However, remote notarization
is not available for certain transactions, including transactions governed by laws
relating to the creation and execution of wills and trusts; marital property
agreements; health care powers of attorney; and other powers of attorney unless the
transaction is between two or more persons relating to the conduct of business,
commercial, or governmental affairs.
The bill creates an exception to the exclusion described above related to powers
of attorney, allowing remote notarization of a limited financial power of attorney for
a real estate transaction.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB626-SSA1,1
1Section
1. 140.145 (10) (c) of the statutes is renumbered 140.145 (10) (c)
2(intro.) and amended to read:
SB626-SSA1,2,43
140.145
(10) (c) (intro.) Any law governing the creation and execution of powers
4of attorney, not including
a any of the following:
SB626-SSA1,2,5
51. A transaction, as defined in s. 137.11 (15).
SB626-SSA1,2
6Section
2. 140.145 (10) (c) 2. of the statutes is created to read:
SB626-SSA1,2,87
140.145
(10) (c) 2. A limited financial power of attorney for a real estate
8transaction.
