Text: SF00371 Text: SF00373 Text: SF00300 - SF00399 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 16.91, subsection 5, unnumbered 1 2 paragraph 2, Code 1995, is amended to read as follows: 1 3 Additionally, each participating abstractor is required to 1 4 own or lease, and maintain and use in the preparation of 1 5 abstracts, an up-to-date abstract title plant including tract 1 6 indices for real estate for each county in which abstracts are 1 7 prepared for real property titles guaranteed by the division. 1 8 The tract indices shall contain a reference to all instruments 1 9 affecting the real estate which are recorded in the office of 1 10 the county recorder, and shall commence not less than forty 1 11 years prior to the date the abstractor commences participation 1 12 in the title guaranty program. However, a participating 1 13 attorneyprovidingwho has provided abstract services in a 1 14 county continuously from November 12, 1986, to the date of 1 15 application, either personally or through persons under the 1 16 attorney's supervision and control, is exempt in that county 1 17 from the requirements of this paragraph. A participating 1 18 attorney who is exempt in a county from the requirements of 1 19 this paragraph and who has provided abstract services in an 1 20 adjacent county continuously from March 15, 1994, either 1 21 personally or through persons under the attorney's supervision 1 22 and control shall also be exempt in the adjacent county from 1 23 the requirements of this paragraph. 1 24 EXPLANATION 1 25 This bill provides that the exemption for an attorney 1 26 providing abstract services to the requirement that the 1 27 attorney own or lease, and maintain an up-to-date abstract 1 28 plant, only applies to a county in which the attorney has 1 29 provided abstract services continuously since November 12, 1 30 1986, and to adjacent counties in which the attorney has 1 31 provided abstract services directly or through employees or 1 32 others since March 15, 1994. Currently, the exemption applies 1 33 statewide. 1 34 LSB 2300SV 76 1 35 mk/jw/5
Text: SF00371 Text: SF00373 Text: SF00300 - SF00399 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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