SB 382 Summary

• Defines fraudulent financing statements as those filed without consent of obligors, debtors, or collateral owners, or filed to hinder, harass, or wrongfully interfere with another person, or forged documents.

• Allows individuals named in fraudulent financing statements to file a motion for judicial review and permits courts to declare statements ineffective, order termination, and award costs including filing fees, attorney's fees, and administrative expenses.

• Makes knowingly or intentionally filing a fraudulent financing statement with the secretary of state a Class D felony, escalated to Class C felony if filed to hinder, harass, or wrongfully interfere with another person.

• Makes knowingly or intentionally filing a false lien or false encumbrance against a public servant's real or personal property a Class D felony, escalated to Class C felony if the person has a prior unrelated conviction for the same offense or fraudulent financing statement filing.

• Requires the secretary of state to create and post a form on its website to assist individuals filing pro se motions for judicial review.