SF 3346

3rd Engrossment - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to real property; requiring the secretary of 
  1.3             state to establish a task force to study and make 
  1.4             recommendations on electronic filing of real estate 
  1.5             documents. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [ELECTRONIC FILING OF REAL ESTATE DOCUMENTS.] 
  1.8      Subdivision 1.  [TASK FORCE; MEMBERSHIP.] The secretary of 
  1.9   state shall establish a task force to study and make 
  1.10  recommendations for the establishment of a system for the 
  1.11  electronic filing and recording of real estate documents.  The 
  1.12  task force must include: 
  1.13     (1) two members of the senate appointed by the subcommittee 
  1.14  on committees of the committee on rules and administration and 
  1.15  two members of the house appointed by the speaker of the house; 
  1.16     (2) representatives of county recorders and other county 
  1.17  government officials; 
  1.18     (3) real estate attorneys, real estate agents, and public 
  1.19  and private land surveyors; 
  1.20     (4) representatives of title companies, mortgage companies, 
  1.21  and other real estate lenders; 
  1.22     (5) a representative of the Minnesota historical society 
  1.23  and other state and local government archivists; 
  1.24     (6) technical and industry experts in electronic commerce 
  1.25  and electronic records management and preservation; 
  2.1      (7) representatives of federal government-sponsored 
  2.2   enterprises active in the real estate industry; 
  2.3      (8) the commissioner of revenue; and 
  2.4      (9) other members appointed by the secretary of state.  
  2.5      Subd. 2.  [STUDY AND RECOMMENDATIONS.] The task force shall 
  2.6   study and make recommendations regarding implementation of a 
  2.7   system for electronic filing and recording of real estate 
  2.8   documents and shall consider:  
  2.9      (1) technology and computer needs; 
  2.10     (2) legal issues such as authenticity, security, timing and 
  2.11  priority of recordings, and the relationship between electronic 
  2.12  and paper recording systems; 
  2.13     (3) cost-effectiveness of electronic recording systems; 
  2.14     (4) timetable and plan for implementing an electronic 
  2.15  recording system, considering types of documents and entities 
  2.16  using the system and volume of recordings; 
  2.17     (5) permissive versus mandatory systems; and 
  2.18     (6) other relevant issues identified by the task force.  
  2.19     The task force shall submit a report to the legislature by 
  2.20  January 15, 2001, outlining a proposed work plan and budget for 
  2.21  consideration by the legislature.  The task force expires June 
  2.22  30, 2003.