Text: HF02003 Text: HF02005 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 624.37, Code 1997, is amended to read 1 2 as follows: 1 3 624.37 SATISFACTION OF JUDGMENT– PENALTY. 1 4 1. When the amount due upon judgment is paid off, or 1 5 satisfied in full, the party entitled to the proceeds thereof, 1 6 or those acting for that party, must acknowledge satisfaction 1 7 thereof upon the record of such judgment, or by the execution 1 8 of an instrument referring to it, duly acknowledged and filed 1 9 in the office of the clerk in every county wherein the 1 10 judgment is a lien. A failure to do so within thirty days 1 11 after having been requested in writing shall subject the 1 12 delinquent party to a penalty of one hundred dollars plus 1 13 reasonable attorney fees incurred by the party aggrieved, to 1 14 be recovered in an action for the satisfaction or 1 15 acknowledgment by the party aggrieved. 1 16 2. If the judgment creditor cannot be located within the 1 17 thirty-day period described in subsection 1 in order to 1 18 acknowledge satisfaction of the judgment, the judgment debtor 1 19 may file a motion in the court that rendered the original 1 20 judgment requesting the court to order the clerk of court to 1 21 enter a memorandum of satisfaction. The judgment debtor shall 1 22 attach an affidavit to the motion from the clerk of court, 1 23 showing that payment in full of the amount due has been 1 24 tendered to the clerk, and that diligent efforts have been 1 25 made to contact the judgment creditor. The judge shall rule 1 26 on the motion according to rule of civil procedure 256 and 1 27 enter appropriate orders, including direction to the clerk of 1 28 court to enter the memorandum of satisfaction and to deposit 1 29 the tendered funds in a trust account for the benefit of the 1 30 judgment creditor. If those funds remain unclaimed for the 1 31 requisite period of time, they shall be subject to disposition 1 32 according to section 556.8. 1 33 EXPLANATION 1 34 This bill amends Code section 624.37 to provide an express 1 35 procedure for entry of a satisfaction of judgment when the 2 1 judgment creditor cannot be located. The judgment debtor must 2 2 file a motion with the court and attach an affidavit from the 2 3 clerk of court showing that payment in full has been tendered 2 4 and that diligent efforts have been made to contact the 2 5 judgment creditor. The court, in accordance with rule of 2 6 civil procedure 256, shall rule "according to the 2 7 circumstances" and shall enter orders as appropriate, 2 8 including direction to the clerk to enter the memorandum of 2 9 satisfaction and to place the funds in trust for the judgment 2 10 creditor. The funds, if unclaimed for two years, would be 2 11 subject to disposition as abandoned property under Code 2 12 section 556.8. 2 13 LSB 3058HH 77 2 14 jls/cf/24
Text: HF02003 Text: HF02005 Text: HF02000 - HF02099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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