Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
N Dakota Governor Signs Electronic Lien Into Law
BISMARCK, N.D.  (5/3/13)--It's now official. North Dakota Gov. Jack Dalrymple has signed into state law a measure requiring lenders, including credit unions, to file liens and security interests electronically.

He signed House Bill 1136 Tuesday, as expected, said the Credit Union Association of the Dakotas (The Memo May 1). North Dakota is the second state to mandate electronic lien filing, after Colorado.

CUAD supported the bill, which will make three changes:

  • Mandates the electronic filing of all lien documents into a Central Indexing System (CIS), which would allow for unlimited listing of collateral;
  • Reinstates SSN/FIN as a unique identifier used to search for debtor information, which were not accepted under national paper forms; and
  • Creates an upfront filing fee for the initial lien document and eliminates more than 35 fees and subscription charges, including a fee for searching and retrieving the document.
CUAD noted that the state hopes to have the CIS in operation by July 2014. Credit unions will be instrumental in developing it, said CUAD.


RSS





print
News Now LiveWire
Through the snow, be on the lookout for a @CU4Kids @CMNHospitals @COOPFS billboard in @TimesSquareNYC this week
8 hours ago
.@CUNA , trades unite to urge Congress on #datasecurity action http://t.co/gzmZGX9nfF
11 hours ago
State of Wash. @dficonsumers has expanded its CAMEL ratings to include an "S" for interest-rate sensitivity.
11 hours ago
.@HUDgov tweets: Be sure to tune in tonight to watch @SecretaryCastro on @TheDailyShow with Jon Stewart http://t.co/B1L23NQaoJ
11 hours ago
.@NJCUL Southern Chapter meeting canceled due to the impending snowstorm
12 hours ago