FIRST AMERICAN TITLE INSURANCE COMPANY 24 Bridge Street, Concord, N.H (NH) Fax

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1 FIRST AMERICAN TITLE INSURANCE COMPANY 24 Bridge Street, Concord, N.H (NH) Fax TO: FROM: JOHN W. DOZIER, JR., CHAIRMAN CAROL D. BROOKS, V.P., STATE COUNSEL DATE: August 31, 2001 RE: 2001 SLRAC REPORT-New Hampshire John, Enclosed is the 2001 Legislative Report for New Hampshire. New Hampshire's Legislative season ends mid-summer. New Committee proposals for bills are submitted in the Fall and 2002 Legislation Bills are submitted and available in January Please note that NH Legislation is available online: It has been a pleasure to serve on this Committee. Please call if you have any questions. Very truly yours, Carol D. Brooks Vice President/State Counsel CDB/ls

2 2001 STATE LEGISLATIVE TOPICS SUBMITTED BY:Carol Brooks New Hampshire NH considered legislation affecting title insurance business requirements or operations, see the items in bold/underlined for the affected issue areas. I. CIVIL ACTIONS A. Dissolutions B. Statute of Limitations C. Appeals D. Statute of Frauds E. Receivership F. Estates and Probate G. Torts H. Consumer Protection I. Enforcement of Tax Lien J. Child Support Lien K. Courts II. ENVIRONMENTAL ISSUES A. Wetlands B. Hazardous Waste C. Public Trust/Riparian Rights III. ESCROWS A. Disclosures B. Funding C. Settlements D. Trusts Accounts IV. INSURANCE/BUSINESS ISSUES A. Agents/Abstracter Licensing B. Forms/Rates Regulation/Fees/ Commission Splits C. Claims Administration Requirements D. Reinsurance E. Investment Risk Limitation and Tax Rules F. Limited Liability Companies G. NAIC H. Controlled Business I. Creditors' Rights J. Deceptive Trade Practices/ Anti-Kickback Laws K. Legal Ethics Opinions L. Bulk Sales M. Banks/Sale of Insurance N. Electronic Transactions O. esign Verification Issues P. Privacy Concerns V. STATUTORY LIENS A. Mechanics' Liens

3 B. Judgment Liens C. Attachments D. Child Support Liens E. Attorney F.Estate Tax Liens VI. TAXES A. Real Estate B. Transfer Taxes C. Subdivision Vii. PUBLIC ENTITIES A. Eminent Domain & Dedication B. Indians C. Sale of Municipal Lands D. Zoning VIII. REAL PROPERTY INTERESTS A. Easements B. Streets and Highways C. Covenants, Conditions & Restrictions D. Adverse Possession E. Mineral Rights F. Husband & Wife/Community Property G. Condominiums H. Trusts I. Broker Regulations J. Subdivisions IX. DEEDS AND SECURITY INTERESTS A. Assignments B. Financing Statements C. Conveyances/Deeds D. Foreclosures E. Mortgages/Deed of Trust F. Reconveyances/Releases G. Leases H. Usury I. Tax Sales J. Deficiency Judgements K. Legal Description/land Surveys L. Obligations X. RECORDING A. Secretary of State B. Acknowledgement/Notary C. Recording Requirements D. Seals E. Recording Fees F. Automation G. Medicaid

4 2001 New Hampshire Legislation Carol D. Brooks, Vice President and State Counsel First American Title Insurance Company New Hampshire 2001 was a year of continuing controversy on: State Funding of Education: The NH Supreme Court s struck down legislation which declared a statewide property tax enacted as a result of the 1997 ruling that the State s reliance on property taxes for the purpose of funding school was unconstitutional. The Legislature wrestled with the new property tax and state funding for education again this year. NH Supreme Court and its practices were highly scrutinized. Privacy protections: In light of the Gramm-Leach-Bliley (G-L-B) Act, NH continued to enact in legislation regards sales of insurance by banks and disclosure of personal information by financial institutions. Bank modernization About 1000 Legislative Bills were filed for the 2001 Session. Public hearings began in January 2001 and ended in July. Some bills of interest are : A sampling of the 2001 legislative activity to date affecting real estate conveyancing follows LEGISLATION NEW HAMPSHIRE The Legislature continued to grapple with the effects of Gramm-Leach Bliley and privacy requirements: IV. Insurance Business P. Privacy Concerns HB142 -relative to establishing a committee to study encryption of confidential information. Chapter 31; Effective June 8, 2001 IV. Insurance Business A. Agents/Abstractor Licensing HB595- relative to single producer licensing. This bill updates the law requiring insurance agents to be licensed as single producers. The NH Insurance Department requested the bill. Amendments were enacted to RSA 402-J. and the 416-A :15 Title Insurance. The last provision of the bill states that: Nothing herein shall be construed to require the licensing of a law firm acting as agent of a title insureance company; provided that any sale, solicitation, or negotiation of a contract of title insurance is conducted by a duly licensed title insurance producer. Effective August 20, 2001

5 A number of bills were enacted which affected probate administration: I. Civil Actions. F. Estates and Probate SB61- relative to establishing a procedure for summary administration of estates. Chapter 98. Effective June 21, 2001 SB62- relative to guardianships. Chapter 146. Effective January 1, 2002 This bill requires that the probate court check the criminal record of any proposed guardian and check for records of child abuse or neglect in the case of a proposed guardian of a minor. The bill establishes new probate court procedures for termination of guardianships and the transfer of foreign guardianship orders. The bill also increases the filing time for the annual report of the person in guardianships for incapacitated persons. SB63- relative to administration of estates and filing of wills by executors. Chapter 195. Effective January 1, 2002 IX. Deeds and Security Interests. B. Financing statements HB745- Relative to revisions to Article 9 of the U.C.C. This bill revises Article 9 of the Uniform Commercial Code relative to secured transactions. The bill also makes changes to related statutes and includes a new chapter regarding the coordinated secretary of state database that will contain listings of UCC liens as well as certain other liens. Chapter 102. Effective July 1, V. Statutory Liens. B. Judgment Liens HB 140- relative to Interest on Judgments: simple interest on judgments shall be imposed from the date of the writ or the filing of the petition to the date of judgment and provides that the interest rate shall be determined by the state treasurer using 26 week United States Treasury bills Chapter 160. Effective July 5, X. Recording. C. Recording Requirements HB 498 relative to standards for records filed with a registry of deeds. This bill for document format standards am amended and adopted by the NH registers of deeds. The standards shall include a statement of their effective date and shall be posted in and distributed by all registries of deeds for at least 60 days prior to such effective date. The act takes effect 60 days after its passage. Last action May 31,2001 Sen. Francoeur moved reconsideration of Introduction and Committee referral.

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