AZ HB2417

Amends Arizona Revised Statutes section 44-7003 to clarify that the electronic transactions law applies to articles 1-4, while article 5 applies only to transactions governed by title 47, chapters 2, 2A and 7.

Establishes that signatures secured through blockchain technology are considered electronic signatures and records secured through blockchain technology are considered electronic records.

Permits smart contracts in commerce and provides that contracts containing smart contract terms cannot be denied legal effect, validity or enforceability solely based on the inclusion of such terms.

Preserves ownership and usage rights of persons using blockchain technology to secure information they own or have the right to use, unless the transaction terms expressly provide for transfer of those rights.

Defines "blockchain technology" as distributed ledger technology using cryptography-protected, immutable, and auditable data, and "smart contract" as an event-driven program that runs on distributed ledgers and can transfer assets.