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MI SB0604
Bill
AI Summary
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Filing and indexing fee for records under this part remains $15.00, with exceptions for mortgages and correction statements.
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Search request fee is $6.00, plus additional fees of $25.00 for expedited processing, $2.00 per page for copies, and $6.00 for official seal impression by Secretary of State.
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Mortgages effective as financing statements for fixture filings or as-extracted collateral are exempt from the $15.00 filing fee but subject to applicable recording fees under the Revised Judicature Act.
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Correction statements filed by individuals named as debtors with the Secretary of State are exempt from filing and indexing fees.
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Effective date is October 1, 2016, and the act is contingent upon enactment of Senate Bill No. 599.
Legislative Description
Commercial code; secured transactions; recording fees for mortgages that are effective as financing statements; clarify. Amends sec. 9525 of 1962 PA 174 (MCL 440.9525). TIE BAR WITH: SB 0599'15
Property: recording
Last Action
Presented To Governor 6/14/2016 @ 11:56 Am
9/6/2016