The proposed bill would amend current statutes related to vehicle titles and registration by allowing a power of attorney (POA) to be signed electronically and printed using a commercial product that meets identity assurance standards. Specifically, it would enable agents to execute a POA for total loss settlements without notarization, provided the POA is submitted electronically to the Arizona Department of Transportation (ADOT). Additionally, the bill introduces a requirement for a notation to be included near the electronic signature, indicating that it was obtained through a recognized authentication process.

Furthermore, the bill clarifies definitions and processes related to repossession affidavits, stating that such affidavits serve as proof of ownership and transfer rights when a vehicle is repossessed. It specifies that the lienholder must be licensed in Arizona as a financial institution to submit the affidavit electronically, and it mandates that the ADOT Director will prescribe the form and content of the Arizona repossession affidavit. Overall, the bill aims to modernize the handling of vehicle title transactions by incorporating electronic processes and reducing the need for notarization in specific circumstances.

Statutes affected:
Introduced Version: 28-370
House Engrossed Version: 28-370
Senate Engrossed Version: 28-370, 28-2060
Chaptered Version: 28-370, 28-2060