SB1075

THE CONTEXT: ADRE regulates real estate, cemetery and membership camping brokers and salespersons. ADRE also regulates the sale of subdivisions, unsubdivided lands, timeshares, condominiums, membership campgrounds and cemeteries ( ADRE ).

WHAT THE BILL DID: The final vetoed version would prohibit the conveyance of land to a hostile foreign entity without the approval of the Commission, require a grantor and the grantor's agent submit valid identification of a grantee to ADRE, and stipulates, if a grantee is not a natural person, that valid identification of the grantee's agent, the grantee's name and the principal place of business are valid identification.

WHY IT MATTERED: The practical reason for this bill was to set a clear legal boundary for foreign entities instead of leaving the conduct unaddressed. It would prohibit the conveyance of land to a hostile foreign entity without the approval of the Commission, and would also require a grantor and the grantor's agent submit valid identification of a grantee to ADRE, rather than leave the current rule unchanged.