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Text: SF00371                           Text: SF00373
Text: SF00300 - SF00399                 Text: SF Index
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Senate File 372

Partial Bill History

Bill Text

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 attorney providing who 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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