SB 302 - Loudon, John
Modifies provisions relating to commercial real estate liens and mechanic liens
Bill Details
Sponsor
LR Number
0848S.02T
Title
SCS SB 302
House Handler
Journal Page
N/A
Effective Date
August 28, 2007
Current Status
Signed by Governor
Quick Links
Amendments
No amendments available
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.
STEPHEN WITTE