08/26/2007

News / Senate Appropriations Committee Passes Runner Notary Bill

Sacramento – On Wednesday, the State Senate Appropriations Committee passed AB 886, a bill that will strengthen notary law and fight real estate fraud.

“I am very pleased that this important legislation is moving forward,” said Assemblywoman Sharon Runner. “Real estate fraud is a serious problem and this legislation will save untold dollars now lost to fraud.”

Essentially, AB 886 makes it easier to investigate unethical and criminal notaries public. In these types of cases, notaries aid and abet fraud by loaning their journal to a non-notary, by notarizing documents without all of the parties present or by failing to properly secure their journal and stamp.

This legislation proposes to make the following changes to California law.

Require all parties involved to present valid identification.

Require that a notary sign and stamp a signature of acknowledgement under penalty of perjury.

Extend the statute of limitations for notary-specific crimes from one to four years.

Remove restrictions that prevent peace officers from investigating notaries public and seizing vital evidence.

Prohibit a notary from using a commercial mail receiving agency or P.O. Box as his or her place of business because such addresses make it very difficult for investigators to find them.

Require notaries to keep the California Secretary of State apprised of their true legal name.

“AB 886 will close dangerous loopholes in our current system,” said Runner. “Californians should not have to worry about their homes being stolen out from under them and I am committed to putting a stop to this criminal behavior.”

Next, AB 886 will be heard on the floor of the Senate.

California Political Desk
August 24, 2007
Bill Seeks To Prevent Real Estate Fraud.
http://www.californiachronicle.com/articles/viewArticle.asp?articleID=35938

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