SB-0604, As Passed Senate, February 16, 2016
November 4, 2015, Introduced by Senators HERTEL, MACGREGOR, ZORN and BOOHER and referred to the Committee on Banking and Financial Institutions.
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 90 days
after the date it is enacted into law.