Bill Text: IA HF2131 | 2013-2014 | 85th General Assembly | Enrolled
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: A bill for an act modifying provisions applicable to the recording of a mortgage or deed of trust executed by a transmitting utility. Effective 7-1-14.
Spectrum: Committee Bill
Status: (Passed) 2014-03-07 - Signed by Governor. H.J. 468. [HF2131 Detail]
Download: Iowa-2013-HF2131-Enrolled.html
Bill Title: A bill for an act modifying provisions applicable to the recording of a mortgage or deed of trust executed by a transmitting utility. Effective 7-1-14.
Spectrum: Committee Bill
Status: (Passed) 2014-03-07 - Signed by Governor. H.J. 468. [HF2131 Detail]
Download: Iowa-2013-HF2131-Enrolled.html
House
File
2131
AN
ACT
MODIFYING
PROVISIONS
APPLICABLE
TO
THE
RECORDING
OF
A
MORTGAGE
OR
DEED
OF
TRUST
EXECUTED
BY
A
TRANSMITTING
UTILITY.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
554B.3,
Code
2014,
is
amended
to
read
as
follows:
554B.3
Recording
mortgage
or
deed
of
trust
upon
real
estate.
Any
mortgage
or
deed
of
trust
upon
real
estate
executed
by
a
transmitting
utility
may
provide
that
property
of
the
transmitting
utility,
whether
owned
at
the
time
of
the
execution
of
the
instrument
or
subsequently
acquired,
shall
secure
the
obligations
covered
by
the
instrument.
Recording
the
instrument
in
the
office
of
the
recorder
of
each
county
in
which
such
any
portion
of
the
property
,
or
any
part
thereof,
described
in
the
instrument
is
situated
shall
give
constructive
notice
to
all
persons
of
the
lien
of
the
mortgage
or
deed
of
trust
from
the
time
of
recording
or,
in
the
case
of
subsequently
acquired
real
estate,
from
the
time
of
acquisition.
Sec.
2.
NEW
SECTION
.
554B.4
Recording
memorandum
of
mortgage
or
deed
of
trust.
If
a
mortgage
or
deed
of
trust
upon
real
estate
is
executed
by
a
transmitting
utility
and
the
real
estate
described
in
the
instrument
is
situated
in
more
than
one
county,
the
recording
requirement
of
section
554B.3
establishing
constructive
notice
is
satisfied
by
either
of
the
following:
1.
Recording
the
mortgage
or
deed
of
trust
in
each
county
in
which
any
portion
of
the
property
is
situated.
2.
Recording
the
mortgage
or
deed
of
trust
in
at
least
one
county
in
which
a
portion
of
the
real
estate
is
situated,
and
House
File
2131,
p.
2
by
recording
in
every
other
county
in
which
a
portion
of
the
real
estate
is
situated
a
memorandum
of
the
mortgage
or
deed
of
trust
containing,
at
a
minimum,
the
following:
a.
The
names
and
addresses
of
the
mortgagor
and
mortgagee.
b.
A
legal
description
of
all
real
property
and
interests
therein
subject
to
the
mortgage
or
deed
of
trust.
c.
The
date
of
maturity
of
the
indebtedness
secured
by
the
mortgage
or
deed
of
trust
and
whether
the
instrument
secures
future
advances.
d.
A
statement
as
to
whether
or
not
the
mortgage
or
deed
of
trust
applies
to
subsequently
acquired
property
of
the
transmitting
utility.
e.
The
county
recorder’s
office
where
the
mortgage
or
deed
of
trust
is
recorded,
the
recording
date,
and
document
identification
number.
f.
Such
other
information
as
deemed
appropriate
by
the
transmitting
utility.
______________________________
KRAIG
PAULSEN
Speaker
of
the
House
______________________________
PAM
JOCHUM
President
of
the
Senate
I
hereby
certify
that
this
bill
originated
in
the
House
and
is
known
as
House
File
2131,
Eighty-fifth
General
Assembly.
______________________________
CARMINE
BOAL
Chief
Clerk
of
the
House
Approved
_______________,
2014
______________________________
TERRY
E.
BRANSTAD
Governor
