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MS HB813
Bill
Status
2/5/2019
Primary Sponsor
Greg Snowden
Click for details
AI Summary
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Amends Section 85-7-415 to require chancery clerks to designate a lien and any lis pendens as "cancelled upon the face of the record" when a property owner files an approved bond discharging the lien.
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Requires the bond to be 110% of the amount claimed under the lien and be either cash or a surety company bond authorized to do business in Mississippi.
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Amends Section 85-7-521 to require the same "cancelled upon the face of the record" designation when funds equal to 125% of the lien amount are deposited with the chancery clerk for commercial real estate.
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Applies the same cancellation designation requirement when a corporate surety bond equal to 125% of the lien amount is deposited with the chancery clerk for commercial real estate liens.
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Takes effect July 1, 2019.
Legislative Description
Real estate lien; require the chancery clerk to designate as cancelled when the property owner files a bond with the clerk.
Last Action
Died In Committee
2/5/2019