Text: S05133                            Text: S05135
Text: S05100 - S05199                   Text: S Index
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Senate Amendment 5134

Amendment Text

PAG LIN
  1  1    Amend Senate File 2212 as follows:
  1  2    #1.  By striking everything after the enacting
  1  3 clause and inserting the following:
  1  4    "Section 1.  Section 554.9322, subsection 7, Code
  1  5 Supplement 2001, is amended to read as follows:
  1  6    7.  PRIORITY UNDER AGRICULTURAL LIEN STATUTE.  A
  1  7 perfected agricultural lien on collateral has priority
  1  8 over a conflicting security interest in or
  1  9 agricultural lien on the same collateral if the
  1 10 statute creating the agricultural lien so provides.
  1 11 Notwithstanding any provision of this section to the
  1 12 contrary, an agricultural lien created in chapter 570
  1 13 as a landlord's lien on farm products has priority
  1 14 over a conflicting security interest or lien,
  1 15 including a security interest or lien that was
  1 16 perfected prior to the effectiveness of the landlord's
  1 17 lien, in the same manner as provided in section 570.1.
  1 18    Sec. 2.  Section 554.9515, Code Supplement 2001, is
  1 19 amended by adding the following new subsection:
  1 20    NEW SUBSECTION.  8.  This section does not apply to
  1 21 a financing statement perfecting an agricultural lien
  1 22 created under chapter 570.
  1 23    Sec. 3.  Section 570.1, subsection 2, Code
  1 24 Supplement 2001, is amended to read as follows:
  1 25    2.  a.  In order to perfect a lien in farm products
  1 26 as defined in section 554.9102, which is created under
  1 27 this section, a landlord must file a financing
  1 28 statement as required by section 554.9308, subsection
  1 29 2.  The lien on the farm products is an agricultural
  1 30 lien as provided in section 554.9302.  Except as
  1 31 provided in chapters 571, 572, 579A, 579B, and 581, a
  1 32 perfected lien in the farm products has priority over
  1 33 a conflicting security interest or lien, including a
  1 34 security interest or lien that was perfected prior to
  1 35 the creation of the lien under this section, if the
  1 36 lien created in this section is perfected on either of
  1 37 the following dates:
  1 38    a. (1)  Prior to July 1, 2001 2002.
  1 39    b. (2)  When the debtor takes possession of the
  1 40 leased premises or within twenty days after the debtor
  1 41 takes possession of the leased premises.
  1 42    b.  The financing statement must meet the
  1 43 requirements of section 554.9502, subsection 1, and
  1 44 include all applicable information described in
  1 45 section 554.9516.  A The financing statement filed to
  1 46 perfect a lien in the farm products must also include
  1 47 a statement that it is filed for the purpose of
  1 48 perfecting a landlord's lien.  Filing a financing
  1 49 statement as provided in this subsection satisfies all
  1 50 requirements for perfection of an agricultural lien as
  2  1 provided in chapter 554, article 9.
  2  2    c.  For as long as the landlord and the tenant are
  2  3 parties to a lease for the same leased premises,
  2  4 including under the terms of the original lease or the
  2  5 renewal of a lease, the landlord's lien shall continue
  2  6 without the filing of a continuation statement as
  2  7 otherwise required in section 554.9515.  Within twenty
  2  8 days after a landlord who has filed a financing
  2  9 statement receives a written demand, authenticated as
  2 10 provided in article 9 of chapter 554, article 9, from
  2 11 a tenant, the landlord shall file a termination
  2 12 statement, if the lien in the farm products has
  2 13 expired or if the tenant is no longer in possession of
  2 14 the leased premises and has performed all obligations
  2 15 under the lease." 
  2 16 
  2 17 
  2 18                               
  2 19 THOMAS FIEGEN
  2 20 SF 2212.704 79
  2 21 da/cls
     

Text: S05133                            Text: S05135
Text: S05100 - S05199                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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