133fc

     On page 1, between lines 3 and 4 of the printed bill, insert:

"
     Section 1. That chapter 47-21 be amended by adding thereto a NEW SECTION to read as follows:

     Any trust deed or mortgage executed by a cooperative organized under the provisions of chapter 47-21 or qualified in accordance with the provisions of §  47-21-74 or § §  47-1A-1501 to 47-1A-1532, inclusive, relative to the qualification of foreign cooperatives to transact business in this state, shall be filed and recorded in the Office of the Secretary of State. The filing and recording of the trust deed or mortgage creates a lien upon the property, real and personal, from the time of the filing. The filing and recording in the Office of the Secretary of State has the same effect to any property as the filing or recording of a similar instrument in each office of the register of deeds where the property is situated.".

     On page 1, delete line 6, and insert "Notwithstanding any provision to the contrary in chapter 57A-9,".

     On page 2, line 10, delete "1" and insert "2".

     On page 2, line 15, after "includes" insert "easements,".

     On page 2, line 18, delete "filed" and insert "considered filed and effective".

     On page 2, line 19, after "." insert "Any mortgage or deed of trust filed before July 1, 2009, with the Office of the Secretary of State pursuant to chapter 57A-9, that complies with the provisions of this section, is considered filed and effective under this section as of July 1, 2009.".

     On page 2, line 22, delete "3" and insert "4".

     On page 2, line 24, delete "3" and insert "4".

     On page 3, line 1, delete "1 and 2" and insert "1 to 3, inclusive,".

     On page 3, line 2, delete "for both purposes".

     On page 3, line 5, delete "1 and 2" and insert "1 to 3, inclusive,".

     On page 3, line 10, delete "1 and 2" and insert "1 to 3, inclusive,".

     On page 3, line 17, delete "provides" and insert "shall provide".

     On page 3, after line 19, insert:

"

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     Section 6. That chapter 47-21 be amended by adding thereto a NEW SECTION to read as follows:

     The secretary of state shall charge and collect a filing fee of one dollar per page for each document filed pursuant to sections 1 to 3, inclusive, of this Act and §  49-34-11.".