Senate File 358 - Reprinted
SENATE FILE
BY COMMITTEE ON JUDICIARY
(SUCCESSOR TO SSB 1252)
(COMPANION TO LSB 3041HV BY
COMMITTEE ON JUDICIARY)
2
4 (AS AMENDED AND PASSED BY THE SENATE MARCH 23, 2005)
6 = New Language by the Senate
8
10
12 Passed Senate, Date Passed House, Date
14 Vote: Ayes Nays Vote: Ayes Nays
16 Approved
18
20 A BILL FOR
22
26 An Act relating to liens associated with agricultural production,
28 by providing for the effectiveness, perfection, and
30 termination of those liens.
34 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
38 SF 358
40 da/cc/26
PAG LIN
1 1 Section 1. Section 570.1, Code 2005, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 1A. A lien in farm products as provided
1 4 in this section becomes effective when a tenant signs a lease
1 5 or becomes bound by a lease of the leased premises.
1 6 Sec. 2. Section 570.1, subsections 3 and 4, Code 2005, are
1 7 amended to read as follows:
1 8 3. A financing statement filed to perfect a lien in the
1 9 farm products under this section must include a statement that
1 10 it is filed for the purpose of perfecting a landlord's lien.
1 11 Notwithstanding section 554.9515, such financing statement
1 12 shall continue to be effective until a termination statement
1 13 is filed.
1 14 4. a. If the parties to a lease remain the same, and
1 15 subject to the provisions of article 9 of chapter 554,
1 16 including but not limited to section 554.9515, a financing
1 17 statement filed for the purpose of perfecting a landlord's
1 18 lien shall continue to be effective. The effectiveness of the
1 19 financing statement shall not be affected by an extension or
1 20 renewal of the lease, or an amendment to the lease, so long as
1 21 the extension, renewal, or amendment does not materially alter
1 22 the extent of the lien.
1 23 b. Within twenty days after a landlord who has filed a
1 24 financing statement for the purpose of perfecting a landlord's
1 25 lien receives a written demand, authenticated as provided in
1 26 article 9 of chapter 554, from a tenant, the landlord shall
1 27 file a termination statement, if the lien in the farm products
1 28 has expired or if the tenant is no longer in possession of the
1 29 leased premises and has performed all obligations under the
1 30 lease.
1 31 Sec. 3. Section 579A.2, subsection 3, paragraph b, Code
1 32 2005, is amended to read as follows:
1 33 b. The lien terminates one year after the cattle have left
1 34 the custom cattle feedlot. Section 554.9515 shall not apply
1 35 to a financing statement perfecting the lien. The lien may be
2 1 terminated by the custom cattle feedlot operator who files a
2 2 termination statement as provided in chapter 554, article 9.
2 3 Sec. 4. Section 579B.4, subsection 1, paragraph b, Code
2 4 2005, is amended to read as follows:
2 5 b. For a lien arising out of producing a crop, the lien
2 6 becomes effective the day that the crop is first planted. In
2 7 order to perfect the lien, the contract producer must file a
2 8 financing statement in the office of the secretary of state as
2 9 provided in section 554.9308. The contract producer must file
2 10 a financing statement for the crop within forty=five days
2 11 after the crop is first planted. The lien terminates one year
2 12 after the crop is no longer under the authority of the
2 13 contract producer. For purposes of this section, a crop is no
2 14 longer under the authority of the contract producer when the
2 15 crop or a warehouse receipt issued by a warehouse operator
2 16 licensed under chapter 203C for grain from the crop is no
2 17 longer under the custody or control of the contract producer.
2 18 Section 554.9515 shall not apply to a financing statement
2 19 perfecting the lien. The lien may be terminated by the
2 20 contract producer who files a termination statement as
2 21 provided in chapter 554, article 9.
2 22 SF 358
2 23 da:nh/cc/26