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REFERENCE TITLE: premarital and postmarital agreements; registry |
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State of Arizona Senate Forty-eighth Legislature First Regular Session 2007
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SB 1621 |
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Introduced by Senators McCune Davis: Johnson
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AN ACT
Amending title 25, chapter 2, article 2, Arizona Revised Statutes, by adding section 25-216; amending section 33-413, Arizona Revised Statutes; relating to marital property and contract rights.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 25, chapter 2, article 2, Arizona Revised Statutes, is amended by adding section 25-216, to read:
25-216. Premarital and postmarital agreements registry; requirements; effect; fees; fund
A. On or before January 1, 2008, the secretary of state shall establish and maintain a PREMARITAL and postmarital agreements registry for the filing of the following:
1. Premarital agreements.
2. Postmarital agreements.
3. Amendments to a premarital or postmarital agreement.
4. Excerpts of a premarital or postmarital agreement.
B. The secretary of state shall make the registry accessible through a website maintained by the secretary of state.
C. The secretary of state may charge a fee for each registration. The secretary of state may accept gifts, grants, donations, bequests and other forms of voluntary contributions to support, promote and maintain the registry.
D. The person who submits a document for registration pursuant to this section must provide a return address.
E. Registration of an agreement pursuant to this section or an amendment to an agreement registered pursuant to this section constitutes notice to creditors and third parties of the agreement or amendment. Registration of an excerpt of an agreement constitutes notice to creditors and third parties only of those terms contained in the excerpted agreement.
F. On receipt of a completed registration form, the secretary of state shall create a digital reproduction of the form, enter the reproduced form into the registry database and assign it a file number.
G. The secretary of state is not required to review a document to ensure that it complies with the particular statutory requirements applicable to the document.
H. The person who submitted the document shall review the printed record. If the information is accurate, the person shall check the box marked "no corrections required" and sign and return the printed record to the secretary of state's office.
I. If the person who submitted the document determines that the printed record is inaccurate, the person shall correct the information and sign and return the corrected printed record to the secretary of state. On receipt of a corrected printed record, the secretary of state shall make the proper corrections and send a corrected printed record to the person who submitted the document. If the information is accurate, the person shall check the box marked "no corrections required" and sign and return the printed record to the secretary of state's office.
J. The secretary of state shall activate the entry into the registry database only after receiving a printed record marked "no corrections required".
K. The entry of a document pursuant to this section does not:
1. Affect the validity of the document.
2. Relate to the accuracy of information contained in the document.
3. Create a presumption regarding the validity of the document or the accuracy of information contained in the document.
L. The secretary of state shall use information contained in the registry only for purposes prescribed in this section.
M. At the request of the person who submitted the document, the secretary of state may transmit the information received regarding the document to the registry system of another jurisdiction as identified by the person.
N. The premarital agreement and postmarital agreement registry fund is established consisting of monies received pursuant to this section. The secretary of state shall administer the fund. Monies in the fund are continuously appropriated. On notice from the secretary of state, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund. The secretary of state shall use fund monies to support, promote and maintain the registry.
Sec. 2. Section 33-413, Arizona Revised Statutes, is amended to read:
33-413. Invalidity of unrecorded marriage contract as to bona fide purchaser or creditor
No A covenant or agreement made in consideration of marriage shall be is not valid against a purchaser for valuable consideration, or a creditor not having that does not have notice thereof, of the covenant or agreement unless the covenant or agreement is duly acknowledged and recorded in the manner and form required for deeds and other conveyances or is registered with the secretary of state pursuant to section 25-216.