CHAPTER 262
(SB 58)
Uniform Commercial Code, fees established.
ENTITLED, An Act to
establish certain fees for filing and indexing records pursuant to the
Uniform Commercial Code, to establish a fund, and to appropriate the fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section
1.
That
§
57A-9-525
be amended to read as follows:
57A-9-525.
(a) Except as otherwise provided in subsection (e), the fee for filing and indexing
a record under this part, other than an initial financing statement of the kind described in subsection
(b), is
(
the amount specified in subsection (c), if applicable, plus
)
:
(1)
$________ [X]________
Thirteen dollars
if the record is communicated in writing and
consists of one
or two pages
page, and four dollars for each additional page. One dollar of this fee
shall be deposited into the financing statement filing fee fund
;
(2)
$ ________ [2X]________
Eleven dollars
if the record is communicated
in writing and
consists of more than two pages
by internet. One dollar of this fee shall be deposited into the
financing statement filing fee fund
; and
(3)
$________ [1/2X]________
Twenty dollars
if the record is communicated by another
medium authorized by filing-office rule.
(b) Except as otherwise provided in subsection (e), the fee for filing and indexing an initial
financing statement of the following kind is
(
the amount specified in subsection (c), if applicable,
plus
)
:
(1)
$________
Thirty dollars
if the financing statement indicates that it is filed in connection
with a public-finance transaction;
(2)
$________
Thirty dollars
if the financing statement indicates that it is filed in connection
with a manufactured-home transaction.
[Alternative A]
(c) The number of names required to be indexed does not affect the amount of the fee in
subsections (a) and (b).
[Alternative B]
(c) Except as otherwise provided in subsection (e), if a record is communicated in writing
or
electronically
, the fee for each name more than
two
one
required to be indexed is
$________
two
dollars
.
(d) The fee for responding to a request for information from the filing office, including for
(
issuing a certificate showing
) (communicating)
whether there is on file any financing statement
naming a particular debtor, is:
(1)
$________
Twelve dollars
if the request is communicated in writing; and
(2)
$________
Ten dollars
if the request is communicated by another medium authorized by
filing-office rule.
Upon request the filing officer shall furnish a copy of any filed financing statement or statement
of assignment for a uniform fee of one dollar per page.
(e) This section does not require a fee with respect to a record of a mortgage which is effective
as a financing statement filed as a fixture filing or as a financing statement covering as-extracted
collateral or timber to be cut under
§
57A-9-502(c). However, the recording and satisfaction fees
that otherwise would be applicable to the record of the mortgage apply.
Section
2.
That chapter
57A-9
be amended by adding thereto a NEW SECTION to read as
follows:
57A-9-527. There is hereby created, within the state treasury, the financing statement filing fee
fund, which is continuously appropriated, to provide funds for the operation of the uniform
commercial code program within the Office of the Secretary of State.
Section
3.
That chapter
57A-9
be amended by adding thereto a NEW SECTION to read as
follows:
57A-9-528. For each effective financing statement filed pursuant to this chapter, three dollars
of the fee collected pursuant to
§
57A-9-525, and the computer search fee assessed pursuant to
§
57A-9-525, shall be deposited in the financing statement filing fee fund.
Section
4.
That chapter
57A-9
be amended by adding thereto a NEW SECTION to read as
follows:
57A-9-529. At the end of each fiscal year, any funds in the financing statement filing fee fund,
not otherwise appropriated, in excess of twenty-five thousand dollars, shall revert to the general
fund.
Section
5.
That chapter
57A-9
be amended by adding thereto a NEW SECTION to read as
follows:
57A-9-530. If a filed financing or continuation statement covers farm products or accounts, or
livestock, or general intangibles arising from or relating to the sale of farm products by a farmer,
or crops growing or to be grown, the secured party may file a standard form to be prescribed by
the secretary of state, which may be a combined effective financing statement and a uniform
commercial code financing statement.
Signed March 5, 2001.