SB 885
Modifies provisions relating to the sale of property to satisfy liens on stored property
Sponsor:
LR Number:
4389S.01I
Committee:
Last Action:
3/8/2022 - Hearing Conducted S General Laws Committee
Journal Page:
Title:
Calendar Position:
Effective Date:
August 28, 2022

Current Bill Summary

SB 885 - Under current law, if the owner of personal property in a self-storage facility defaults on rent or other charges as set forth in statute and the operator of the facility chooses to sell such personal property to satisfy the lien on the property, notice of sale of the defaulted property shall be made in the classified section of a newspaper in the jurisdiction where the sale is to be held. This act allows the seller to also advertise in any commercially reasonable manner. The manner of advertisement shall be deemed commercially reasonable if at least 3 independent bidders attend or view the sale at the time and place advertised.

This act is identical to SB 594 (2021) and HB 1135 (2021).

JAMIE ANDREWS

Amendments

No Amendments Found.