New Jersey State Bar Association - The voluntary Bar Association of New Jersey, serving members since 1899.

Capitol Report

April 29, 2013

 

This is a status report provided by the New Jersey State Bar Association on recently passed and pending legislation, regulations, gubernatorial nominations and/or appointments of interest to lawyers, as well as the involvement of the NJSBA as amicus in appellate court matters. To obtain a complete copy of the Capitol Report and/or retrieve a former Capitol Report, please visit our website at www.njsba.com

 

PENDING LEGISLATION

 

Real Property, Trust and Estate Law

A-3052 (Diegnan) Establishes the Residential Mortgage Satisfaction Act; places certain requirements on the issuance of mortgage pay-off letters; provides an additional process for discharging mortgages of record. On April 15, 2013, the bill was received in the Senate and referred to the Senate Commerce Committee.

 

A-3053 (Diegnan) Provides procedure to cancel a mortgage of record by affidavit of the entitled person under certain conditions. On April 15, 2013, the bill was received in the Senate and referred to the Senate Commerce Committee.

 

A-4013 (McHose) Authorizes the imposition of additional fines for overcrowding in residential renting units. On April 4, 2013, the bill was introduced and referred to the Assembly Housing and Local Government Committee.

 

Renewable Energy, Cleantech and Climate Change

S-2655 (Beach) Requires construction of new buildings, facilities, and structures using state, Economic Development Authority, or New Jersey Schools Development Authority funds to include green or blue roofs. On April 15, 2013, the bill was introduced and referred to the Senate Environment and Energy Committee.

 

S-2656 (Beach) Requires certain state departments, divisions, commissions, and authorities to consider use of green or blue roof in construction of certain new state buildings, facilities, and structures. On April 15, 2013, the bill was introduced and referred to the Senate Environment and Energy Committee.

 

S-2657 (Beach) Requires the New Jersey Environmental Infrastructure Financing Program to give additional weight in its ranking system to projects including green or blue roofs. On April 15, 2013, the bill was introduced and referred to the Senate Environment and Energy Committee.

 

S-2684 (Beach) Requires adoption of certain rules and regulations by the Department of Community Affairs and Department of Environmental Protection concerning blue roofs and green roofs. On April 15, 2013, the bill was introduced and referred to the Senate Environment and Energy Committee.

 

NEW CHAPTER LAWS

 

Business Law

P.L.2013, c.40 (Diegnan) Allows certain business combinations between resident domestic corporations and interested stockholders. On April 1, 2013, the bill was signed into law.

 

The NJSBA Board of Trustees, Legislative Committee and Business Law Section voted to support this legislation, believing it provides flexibility in complying with the New Jersey Shareholder Protection Act without understanding the specific purposes of this complex statute.

 

P.L.2013, c.41 (Diegnan) Allows corporation shareholder meeting participation by remote communication and clarifies remedies for dissenting shareholders. On April 1, 2013, the bill was signed into law.

 

The NJSBA Board of Trustees, Legislative Committee and Business Law Section voted to support this legislation, believing it modernizes New Jersey to expand shareholder participation, and also clarifies the rights of dissenting shareholders.

 

P.L.2013, c.42 (Diegnan) Revises the law concerning derivative proceedings and shareholder class actions. On April 1, 2013, the bill was signed into law. 

 

The New Jersey State Bar Association’s Board of Trustees, Legislative Committee and Business Law Section all support this legislation, believing it would bring clarity to the current laws, and that the dollar amount increase has been long overdue.

 

Criminal Law

P.L.2013, c.38 (Burzichelli) Authorizes the release of sex offender registration information to the Department of Human Services and county welfare agencies. On April 1, 2013, the bill was signed into law.