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Senate File 2422

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 558.2, Code 1995, is amended to read as
  1  2 follows:
  1  3    558.2  CORPORATION HAVING SEAL.
  1  4    In the execution of any written instrument conveying,
  1  5 encumbering, or affecting real estate by a corporation that
  1  6 has adopted a corporate seal, the seal of such corporation
  1  7 shall may but need not be attached or affixed to such written
  1  8 instrument.
  1  9    Sec. 2.  Section 558.3, Code 1995, is amended to read as
  1 10 follows:
  1 11    558.3  CORPORATION NOT HAVING SEAL.
  1 12    If the corporation has not adopted a corporate seal, such
  1 13 fact shall may but need not be stated in such written
  1 14 instrument.
  1 15    Sec. 3.  Section 558.39, subsection 3, Code 1995, is
  1 16 amended to read as follows:
  1 17    3.  In the case of corporations or joint-stock
  1 18 associations:
  1 19    On this ... day of ....., A.D. 19.., before me, a ........
  1 20 (Insert title of acknowledging officer) in and for said
  1 21 county, personally appeared ......., to me personally known,
  1 22 who being by me duly (sworn or affirmed) did say that that
  1 23 person is ....... (Insert title of executing officer) of said
  1 24 (corporation or association), that (the seal affixed to said
  1 25 instrument is the seal of said or no seal has been procured by
  1 26 the said) (corporation or association) and that said
  1 27 instrument was signed and sealed on behalf of the said
  1 28 (corporation or association) by authority of its board of
  1 29 (directors or trustees) and the said ........ acknowledged the
  1 30 execution of said instrument to be the voluntary act and deed
  1 31 of said (corporation or association) by it voluntarily
  1 32 executed.
  1 33    Sec. 4.  Section 558.39, subsection 3A, Code 1995, is
  1 34 amended to read as follows:
  1 35    3A.  In the case of limited liability companies:
  2  1    On this ... day of ....., A.D. 19.., before me, a ........
  2  2 (Insert title of acknowledging officer) in and for said
  2  3 county, personally appeared ......., to me personally known,
  2  4 who being by me duly (sworn or affirmed) did say that that
  2  5 person is ....... (Insert title of executing member) of said
  2  6 (limited liability company), that (the seal affixed to said
  2  7 instrument is the seal of said or no seal has been procured by
  2  8 the said) (limited liability company) and that said instrument
  2  9 was signed and sealed on behalf of the said (limited liability
  2 10 company) by authority of its managers and the said ........
  2 11 acknowledged the execution of said instrument to be the
  2 12 voluntary act and deed of said (limited liability company) by
  2 13 it voluntarily executed.
  2 14    Sec. 5.  Section 558.39, subsection 6, Code 1995, is
  2 15 amended to read as follows:
  2 16    6.  In the case of a corporate fiduciary:
  2 17    On this ... day of ......, 19.., before me, the
  2 18 undersigned, a Notary Public in and for the State of Iowa,
  2 19 personally appeared ...... and ......, to me personally known,
  2 20 who, being by me duly sworn, did say that they are the
  2 21 ........ and ........, respectively, of the corporation
  2 22 executing the foregoing instrument; that (no seal has been
  2 23 procured by) (the seal affixed thereto is the seal of) the
  2 24 corporation; that the instrument was signed (and sealed) on
  2 25 behalf of the corporation by authority of its Board of
  2 26 Directors; that ...... and ...... acknowledged the execution
  2 27 of the instrument to be the voluntary act and deed of the
  2 28 corporation and of the fiduciary, by it, by them and as the
  2 29 fiduciary voluntarily executed.
  2 30    Sec. 6.  Section 558.39, subsection 7, Code 1995, is
  2 31 amended to read as follows:
  2 32    7.  In the case of a limited partnership with corporate
  2 33 general partner:
  2 34    On this ... day of ......, 19.., before me, the
  2 35 undersigned, a Notary Public in and for the State of Iowa,
  3  1 personally appeared ........, to me personally known, who
  3  2 being by me duly sworn did say that the person is the ........
  3  3 of ........, the General Partner of ........, a ...... limited
  3  4 partnership, executing the foregoing instrument, that no seal
  3  5 has been procured by the corporation; that the instrument was
  3  6 signed on behalf of the corporation as General Partner of
  3  7 ........, a ...... limited partnership, by authority of the
  3  8 corporation's Board of Directors; and that ........ as that
  3  9 officer acknowledged execution of the instrument to be the
  3 10 voluntary act and deed of the corporation and limited
  3 11 partnership by it and by the officer voluntarily executed.
  3 12    Sec. 7.  Section 558.39, subsection 9, Code 1995, is
  3 13 amended to read as follows:
  3 14    9.  In the case of joint ventures:
  3 15    On this ... day of ......, 19.., before me, the
  3 16 undersigned, a Notary Public in and for the State of Iowa,
  3 17 personally appeared ......  and ......, to me personally
  3 18 known, who, being by me duly sworn, did say that they are the
  3 19 ...... and ......, respectively, of ........, an Iowa
  3 20 corporation, a joint venturer of ........, a joint venture,
  3 21 executing the foregoing instrument, that (no seal has been
  3 22 procured by) (the seal affixed thereto is the seal of) the
  3 23 corporation; that the instrument was signed (and sealed) on
  3 24 behalf of the corporation as a joint venturer of ........, a
  3 25 joint venture, by authority of its Board of Directors; and
  3 26 that ......  and ......, as such officers, acknowledged the
  3 27 execution of the instrument to be the voluntary act and deed
  3 28 of the corporation and joint venture, by the corporation and
  3 29 joint venture and by them voluntarily executed.
  3 30    Sec. 8.  Section 558.39, subsection 13, Code 1995, is
  3 31 amended to read as follows:
  3 32    13.  In the case of corporations or national banking
  3 33 associations acting as custodians pursuant to chapter 565B or
  3 34 any other Uniform Transfers to Minors Act:
  3 35    On this ... day of ......, 19.., before me, the
  4  1 undersigned, a Notary Public in and for said State, personally
  4  2 appeared ...... and ......, to me personally known, who, by me
  4  3 duly sworn, did say that they are the ...... and ......,
  4  4 respectively, of the Corporation executing the foregoing
  4  5 instrument; that (no seal has been procured by) (the seal
  4  6 affixed thereto is the seal of) the corporation; that the
  4  7 instrument was signed (and sealed) on behalf of the
  4  8 Corporation by authority of its Board of Directors; that
  4  9 ...... and ......  acknowledged the execution of the
  4 10 instrument as custodian of ........ (name of minor), under the
  4 11 ........ (State) Uniform Transfers to Minors Act, to be the
  4 12 voluntary act and deed of the person and of the custodian.
  4 13    (In all cases add signature and title of the officer taking
  4 14 the acknowledgment, and strike from between the parentheses
  4 15 the word or clause not used, as the case may be.)
  4 16    Sec. 9.  Section 589.6, Code 1995, is amended to read as
  4 17 follows:
  4 18    589.6  INSTRUMENTS AFFECTING REAL ESTATE.
  4 19    All instruments in writing executed by a corporation before
  4 20 July 1, 1996, which are more than ten years earlier one year
  4 21 old, conveying, encumbering, or affecting real estate,
  4 22 including releases, satisfactions of mortgages, judgments, or
  4 23 any other liens by entry of the release or satisfaction upon
  4 24 the page where the lien appears recorded or entered, where the
  4 25 corporate seal of the corporation has not been affixed or
  4 26 attached, and which are otherwise legally and properly
  4 27 executed, are legal, valid, and binding as though the
  4 28 corporate seal had been attached or affixed.  
  4 29 SF 2422
  4 30 mk/cc/26
     

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