Introduced
by
To make it a misdemeanor to file false finance statements of the type used to perfect a security interest in property owned by another to whom one has lent money, to allow baseless filings to be removed from public records, and to require debtors to be notified by the Secretary of State any filings. Reportedly there are instances of individuals falsely filing these statements against others as a means of retribution, and under current law there is no test for their validity and no way to have baseless filings removed.
Referred to the Committee on Government Operations
Reported without amendment
With the recommendation that the substitute (H-3) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one which incorporates technical changes, and which also raises the fees imposed by the Secretary of State for filing and searching financing statements.
The substitute passed by voice vote
Passed in the House 103 to 0 (details)
To make it a misdemeanor to file false finance statements of the type used to perfect a security interest in property owned by another to whom one has lent money, to allow baseless filings to be removed from public records, and to require debtors to be notified by the Secretary of State any filings. Reportedly there are instances of individuals falsely filing these statements against others as a means of retribution, and under current law there is no test for their validity and no way to have baseless filings removed. The bill also raises the fees imposed by the Secretary of State for filing and searching financing statements.
Referred to the Committee on Economic Development, Small Business, and Regulatory Reform
Reported without amendment
With the recommendation that the substitute (S-3) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that makes this offense a felony pubishable by up to five years in prison.
The substitute passed by voice vote
Passed in the Senate 36 to 0 (details)
To make it a felony to file false finance statements of the type used to perfect a security interest in property owned by another to whom one has lent money, to allow baseless filings to be removed from public records, and to require debtors to be notified by the Secretary of State any filings. Reportedly there are instances of individuals falsely filing these statements against others as a means of retribution, and under current law there is no test for their validity and no way to have baseless filings removed. The bill also raises the fees imposed by the Secretary of State for filing and searching financing statements.
Passed in the House 100 to 0 (details)
To concur with the Senate-passed version of the bill.
