SB-0604, As Passed Senate, June 7, 2016

HOUSE SUBSTITUTE FOR

SENATE BILL NO. 604

     A bill to amend 1962 PA 174, entitled

"Uniform commercial code,"

by amending section 9525 (MCL 440.9525), as amended by 2004 PA 212.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

     Sec. 9525. (1) Except as otherwise provided in subsection (3)

or (4), the fee for filing and indexing a record under this part is

$15.00.

     (2) A filing office shall charge a person a fee for responding

to a request for a search of the records filed with a filing office

concerning a debtor, including issuance of a certificate describing

each presently effective record filed concerning the debtor if

requested. The fee is $6.00, plus 1 or more of the following, if

applicable:

     (a) If the person requests expediting of the regular search

process, an additional fee of $25.00.

     (b) If the person requests copies of the presently effective

records disclosed by the search, an additional fee of $2.00 per

page.

     (c) If the filing office is the secretary of state and the

person requests that the secretary of state include an impression

of the official seal of the secretary of state on the certificate,

an additional fee of $6.00.

     (3) This section does not require a fee with respect to a

record of a mortgage that 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 section 9502(3).

However, the recording and satisfaction fees that otherwise would

be applicable to the record of the mortgage under section 2567 of

the revised judicature act of 1961, 1961 PA 236, MCL 600.2567,

apply.

     (4) There is no fee for filing and indexing a correction

statement filed with the office of the secretary of state under

section 9518, filed by an individual named as a debtor on a record

indexed by the secretary of state.

     Enacting section 1. This amendatory act takes effect October

1, 2016.

     Enacting section 2. This amendatory act does not take effect

unless Senate Bill No. 599 of the 98th Legislature is enacted into

law.