SB 302 Modifies provisions relating to commercial real estate liens and mechanic liens
Sponsor: Loudon
LR Number: 0848S.02T Fiscal Note: 0848-02
Committee: Judiciary and Civil & Criminal Jurisprudence
Last Action: 6/27/2007 - Signed by Governor Journal Page:
Title: SCS SB 302 Calendar Position:
Effective Date: August 28, 2007
House Handler: Pratt

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Current Bill Summary

SCS/SB 302 - This act modifies the definition of commercial real estate by excluding real estate on which no buildings or structures are located and explicitly provides that commercial real estate shall include any unimproved real estate of any zoning classification, other than agricultural or horticultural real estate, being purchased for development or subdivision.

The act provides that the six month statute of limitations for filing a lien shall apply to the labor portion involved with the use of rental equipment while the 60 day time-frame shall apply to the rental equipment value. The act also provides that the five-day written notice of using rental equipment shall not apply to the labor provided by the persons using the rental equipment.