Text: SF02080 Text: SF02082 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 554.9109, subsection 4, paragraph a, 1 2 Code Supplement 2001, is amended to read as follows: 1 3 a. a landlord's lien,; other than an agricultural lien, 1 4 including but not limited to an agricultural lien provided in 1 5 chapter 570; 1 6 Sec. 2. Section 554.9310, subsection 2, paragraphs i and 1 7 j, Code Supplement 2001, are amended to read as followed: 1 8 i. in proceeds which is perfected under section 554.9315; 1 9or1 10 j. that is perfected under section 554.9316.; or 1 11 Sec. 3. Section 554.9310, subsection 2, Code Supplement 1 12 2001, is amended by adding the following new paragraph: 1 13 NEW PARAGRAPH. k. that is a landlord's lien which is an 1 14 agricultural lien effective and perfected as provided in 1 15 section 570.1. 1 16 Sec. 4. Section 554.9317, subsection 1, Code Supplement 1 17 2001, is amended by adding the following new paragraph: 1 18 NEW UNNUMBERED PARAGRAPH. c. An agricultural lien 1 19 perfected as provided in chapters 570 and 579A. 1 20 Sec. 5. Section 570.1, Code Supplement 2001, is amended to 1 21 read as follows: 1 22 570.1 LIEN CREATED – PERFECTION AND PRIORITY – 1 23 TERMINATION. 1 24 1. A landlord's lien is established under this chapter. A 1 25 landlord shall have a lien for the rent upon all crops grown 1 26 upon the landlord's leased premises, and upon anyother1 27 personal property of the landlord's tenant which has been used 1 28 or keptthereonon the leased premises during the termand1 29whichof the lease, if the crops or other property is not 1 30 exempt from execution. 1 31 2. The landlord's lien is created when the term of the 1 32 lease commences and is extinguished one year from the date 1 33 that a year's rent falls due under the lease, or one year from 1 34 the date that the rent for a shorter period falls due under 1 35 the lease. However, the landlord's lien shall not continue 2 1 for more than six months after the date that term of the lease 2 2 expires. 2 3 3.In order to perfect a lienThe landlord's lien in farm 2 4 products as defined in section 554.9102, which is created2 5under this section, a landlord must file a financing statement2 6as required by section 554.9308, subsection 2is an 2 7 agricultural lien as provided in section 554.9302. Except as 2 8 provided inchaptersthis subsection, the agricultural lien 2 9 that is perfected under this section is superior to and shall 2 10 have priority over a conflicting lien or security interest in 2 11 the farm products, including a lien or security interest that 2 12 was perfected prior to the creation of the landlord's lease. 2 13 However, the agricultural lien shall not be superior to a lien 2 14 created in chapter 571, 572, 579A, 579B,andor 581, a2 15perfected lien in the farm products has priority over a2 16conflicting security interest or lien, including a security2 17interest or lien that was perfected prior to the creation of2 18the lien under this section, if the lien created in this2 19section is perfected on either of the following dates:that is 2 20 perfected as required in section 554.9310. 2 21a. Prior to July 1, 2001.2 22b. When the debtor takes possession of the leased premises2 23or within twenty days after the debtor takes possession of the2 24leased premises.2 25A financing statement filed to perfect a lien in the farm2 26products must include a statement that it is filed for the2 27purpose of perfecting a landlord's lien. Within twenty days2 28after a landlord who has filed a financing statement receives2 29a written demand, authenticated as provided in article 9 of2 30chapter 554, from a tenant, the landlord shall file a2 31termination statement, if the lien in the farm products has2 32expired or if the tenant is no longer in possession of the2 33leased premises and has performed all obligations under the2 34lease.2 35 Sec. 6. Section 570.2, Code 2001, is repealed. 3 1 EXPLANATION 3 2 This bill amends provisions in Code chapter 554 (article 9 3 3 of the revised uniform commercial code) and Code chapter 570 3 4 providing for landlord's liens. The purpose of Code chapter 3 5 570 is to protect the credit interests of landlords who lease 3 6 their premises to farmers, by providing landlords a lien for 3 7 the rent upon crops grown on the leased and other personal 3 8 property of the tenant. 3 9 In 2000, the general assembly enacted House File 2513 (2000 3 10 Iowa Acts, chapter 1149) adopting revised article 9 of the 3 11 uniform commercial code as proposed by the American law 3 12 institute and the national conference of commissioners on 3 13 uniform state laws, and conforming amendments to a number of 3 14 articles within that chapter as well as other chapters 3 15 providing for security interests and liens, including Code 3 16 chapter 570. 3 17 With limited exceptions, revised article 9 governs the 3 18 creation, priority, and enforcement of creditors' consensual 3 19 liens, which are defined as security interests in personal 3 20 property and fixtures. Revised article 9, like its 3 21 predecessor, provides generally for the effectiveness of 3 22 security agreements and the rights and duties of creditors 3 23 (i.e., secured parties), including parties having possession 3 24 and control of collateral. Much of revised article 9 provides 3 25 for perfecting a security interest, usually accomplished by 3 26 filing a financing statement. The revised article provides 3 27 for the contents of financing statements and the location 3 28 where such financing statements must be filed (e.g., with the 3 29 secretary of state). In perfecting a security interest, a 3 30 debtor is generally assured rights in the collateral superior 3 31 to a security interest perfected later in time. 3 32 Prior to the revision of article 9, liens created in 3 33 statutes outside Code chapter 554 were not affected by its 3 34 provisions. These liens include types of statutory liens such 3 35 as the landlord's lien created in Code chapter 570. Revised 4 1 article 9 provides filing requirements for perfecting 4 2 statutory liens referred to as "agricultural liens" and 4 3 therefore may control issues relating to priority of 4 4 conflicting security interests and liens. Code chapter 570 4 5 was amended to require a landlord to file a financing 4 6 statement in order to perfect a lien in farm products (crops). 4 7 The amendment to Code chapter 570 provided for the contents of 4 8 the financing statement, and provided that if perfected it 4 9 would enjoy priority over conflicting security interests or 4 10 liens even if they were perfected earlier. The amendments 4 11 made exceptions for other super-priority liens created in 4 12 other statutes, including Code chapters 571 (thresher's or 4 13 cornsheller's lien), 572 (mechanic's lien), 579A (custom 4 14 cattle feedlot lien), 579B (commodity production contract 4 15 lien), and 581 (veterinarian's lien). 4 16 The bill expressly amends provisions in both Code chapters 4 17 554 and 570 to provide that a landlord's lien in farm products 4 18 as created in Code section 570.1 is an agricultural lien. It 4 19 amends provisions in Code chapter 554 referring to security 4 20 interests and agricultural liens by specifically referencing 4 21 super-priority liens such as the landlord's lien. The bill 4 22 eliminates the filing requirement by landlords required to 4 23 perfect their interest. The bill provides that the landlord's 4 24 lien is created when the term of the lease commences. For 4 25 purposes of readability, the bill moves and rewords provisions 4 26 from Code section 570.2 that provides that the landlord's lien 4 27 is extinguished one year from the date that a year's rent 4 28 falls due under the lease, or one year from the date that the 4 29 rent for a shorter period falls due under the lease (but must 4 30 terminate six months after the date that term of the lease 4 31 expires). The bill then repeals Code section 570.2. The bill 4 32 keeps provisions from the 2000 amendments that maintain the 4 33 super-priority status of the landlord's lien with the limited 4 34 exceptions for the other super-priority liens that are 4 35 perfected in accordance with the revised article 9 or their 5 1 respective chapters. 5 2 LSB 5105SS 79 5 3 da/cls/14
Text: SF02080 Text: SF02082 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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