FINAL BILL REPORT

SB 5194

                                  C 189 L 87

BYSenators Talmadge and Newhouse; by request of Department of Licensing

Revising fees under the Uniform Commercial Code.

Senate Committee on Judiciary

House Committe on Judiciary

SYNOPSIS AS ENACTED

BACKGROUND:

Current Uniform Commercial Code provisions specify the dollar amount of fees for filing security interests, financing statements, statements of release, statements of assignment, and for obtaining debtor's certificates.  They do not allow the Department of Licensing to recoup the expenses incurred when farmers and agricultural lenders use the Department's field computers.  Also, they do not allow the Department to charge fees for the filing of processor or preparer liens.

SUMMARY:

The statutory dollar amounts are eliminated and the Department of Licensing is given authority to promulgate rules that prescribe standard filing forms, fees, and uniform procedures.  The Department is also given rulemaking authority to devise a system for recouping the phone and computer access charges the Department incurs when the public uses its field computers.

VOTES ON FINAL PASSAGE:

      Senate    45     1

      House 94   1

EFFECTIVE:July 26, 1987