Senate
Study
Bill
3100
-
Introduced
SENATE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
JUDICIARY
BILL
BY
CHAIRPERSON
ZAUN)
A
BILL
FOR
An
Act
relating
to
obtaining
a
mechanic’s
lien
when
a
person
1
takes
collateral
security
on
a
contract
for
furnishing
2
material
or
performing
labor.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
6118XC
(1)
87
asf/jh
S.F.
_____
Section
1.
REPEAL.
Section
572.3,
Code
2018,
is
repealed.
1
EXPLANATION
2
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
3
the
explanation’s
substance
by
the
members
of
the
general
assembly.
4
This
bill
repeals
Code
section
572.3
(collateral
security
5
before
completion
of
work).
The
bill
removes
the
bar
to
6
obtaining
a
mechanic’s
lien
if
a
person
takes
collateral
7
security,
either
at
the
time
of
making
a
contract
or
during
8
progress
of
the
work,
on
a
contract
for
furnishing
material
or
9
performing
labor.
10
-1-
LSB
6118XC
(1)
87
asf/jh
1/
1