senate Bill S1801

2021-2022 Legislative Session

Allows signatures secured through blockchain technology to be considered an electronic signature

download bill text pdf

Sponsored By

Current Bill Status - Passed Senate


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (16)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 14, 2022 referred to governmental operations
delivered to assembly
passed senate
Feb 03, 2022 advanced to third reading
Feb 02, 2022 2nd report cal.
Feb 01, 2022 1st report cal.419
Jan 05, 2022 referred to internet and technology
returned to senate
died in assembly
Feb 10, 2021 referred to governmental operations
delivered to assembly
passed senate
Feb 03, 2021 advanced to third reading
Feb 02, 2021 2nd report cal.
Feb 01, 2021 1st report cal.194
Jan 15, 2021 referred to internet and technology

Votes

view votes

Jan 31, 2022 - Internet and Technology committee Vote

S1801
7
0
committee
7
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Internet and Technology committee vote details

Internet and Technology Committee Vote: Jan 31, 2022

Feb 1, 2021 - Internet and Technology committee Vote

S1801
7
0
committee
7
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Internet and Technology committee vote details

Internet and Technology Committee Vote: Feb 1, 2021

Co-Sponsors

S1801 (ACTIVE) - Details

Law Section:
State Technology Law
Laws Affected:
Amd §302, add §310, St Tech L
Versions Introduced in Other Legislative Sessions:
2017-2018: S8858
2019-2020: S4142

S1801 (ACTIVE) - Summary

Relates to allowing signatures, records and contracts secured through blockchain technology to be considered in an electronic form and to be an electronic record and signature; allows smart contracts to exist in commerce.

S1801 (ACTIVE) - Sponsor Memo

S1801 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1801
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 15, 2021
                                ___________
 
 Introduced  by  Sens.  SAVINO, KAPLAN -- read twice and ordered printed,
   and when printed to be committed to  the  Committee  on  Internet  and
   Technology
 
 AN  ACT  to  amend  the  state technology law, in relation to blockchain
   technology and smart contracts
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  302  of  the  state technology law is amended by
 adding two new subdivisions 6 and 7 to read as follows:
   6. "BLOCKCHAIN TECHNOLOGY" SHALL MEAN  DISTRIBUTED  LEDGER  TECHNOLOGY
 THAT  USES  A  DISTRIBUTED, DECENTRALIZED, SHARED AND REPLICATED LEDGER,
 WHICH MAY BE PUBLIC OR PRIVATE, PERMISSIONED OR PERMISSIONLESS, OR DRIV-
 EN BY TOKENIZED CRYPTO ECONOMICS OR TOKENLESS. THE DATA ON THE LEDGER IS
 PROTECTED WITH CRYPTOGRAPHY, IS IMMUTABLE AND AUDITABLE AND PROVIDES  AN
 UNCENSORED TRUTH.
   7.  "SMART CONTRACT" SHALL MEAN AN EVENT-DRIVEN PROGRAM THAT RUNS ON A
 DISTRIBUTED, DECENTRALIZED, SHARED AND REPLICATED LEDGER  AND  THAT  CAN
 TAKE CUSTODY OVER AND INSTRUCT TRANSFER OF ASSETS ON THAT LEDGER.
   §  2.  The state technology law is amended by adding a new section 310
 to read as follows:
   § 310. SIGNATURES AND RECORDS SECURED  THROUGH  BLOCKCHAIN  TECHNOLOGY
 AND  SMART  CONTRACTS. 1. A SIGNATURE THAT IS SECURED THROUGH BLOCKCHAIN
 TECHNOLOGY IS CONSIDERED TO BE IN AN ELECTRONIC FORM AND TO BE AN  ELEC-
 TRONIC SIGNATURE.
   2.  A RECORD OR CONTRACT THAT IS SECURED THROUGH BLOCKCHAIN TECHNOLOGY
 IS CONSIDERED TO BE IN AN  ELECTRONIC  FORM  AND  TO  BE  AN  ELECTRONIC
 RECORD.
   3.  SMART  CONTRACTS  MAY  EXIST IN COMMERCE. A CONTRACT RELATING TO A
 TRANSACTION MAY NOT BE DENIED LEGAL EFFECT, VALIDITY  OR  ENFORCEABILITY
 SOLELY BECAUSE THAT CONTRACT CONTAINS A SMART CONTRACT TERM.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03139-01-1

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