Text: HSB00155 Text: HSB00157 Text: HSB00100 - HSB00199 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 554.9525, as enacted in 2000 Iowa Acts,
1 2 chapter 1149, section 96, is amended by adding the following
1 3 new subsection:
1 4 NEW SUBSECTION. 6. If the office in which to file a
1 5 financing statement to perfect a security interest or
1 6 agricultural lien is the county recorder, the fee set by the
1 7 secretary of state for filing any statement with the county
1 8 recorder as provided in this chapter shall be remitted to the
1 9 department of revenue and finance for deposit in the general
1 10 fund of the state, except that the county recorder may retain
1 11 an amount of the fee which shall be appropriated for use by
1 12 the county. Notwithstanding section 331.604, the amount of
1 13 the fee retained by the county recorder is five dollars for
1 14 filing a statement on a standard form or six dollars
1 15 otherwise.
1 16 EXPLANATION
1 17 In 2000, the general assembly enacted House File 2513 (2000
1 18 Iowa Acts, chapter 1149) adopting revisions to Article 9 of
1 19 the uniform commercial code (Code chapter 554), as proposed by
1 20 the American law institute and the national conference of
1 21 commissioners of uniform state laws, and conforming amendments
1 22 to a number of articles with that chapter as well as other
1 23 chapters providing for security interests and liens. The Act
1 24 takes effect on July 1, 2001.
1 25 Under the current law, there are a number of fees
1 26 established for filing documents such as financing statements
1 27 and continuation statements required in order to perfect a
1 28 security interest or retain a perfected status. The secretary
1 29 of state is the filing office, but the Code provides that the
1 30 county recorder may be the filing office for certain purposes
1 31 such as requiring the perfection of security interests in
1 32 "fixtures" which are so related to particular real estate that
1 33 an interest in them arises under real estate law. Currently,
1 34 Code chapter 554 provides a filing fee of $10 for filing
1 35 statements on a standard form or $12 otherwise, and provides
2 1 that the county retains half of the amount with the other
2 2 amount remitted to the general fund of the state.
2 3 The bill amends Code section 554.9525 as enacted in House
2 4 File 2513. That section provides that filing fees are set by
2 5 the secretary of state based on certain requirements. This
2 6 bill provides that if a county recorder is the filing office
2 7 for certain statements under the new law, the county may
2 8 retain $5 or $6 of the filing fee and remit the remainder to
2 9 the general fund of the state.
2 10 LSB 1557HC 79
2 11 da/gg/8
Text: HSB00155 Text: HSB00157 Text: HSB00100 - HSB00199 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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