SB 460 - Brown (16), Justin
Modifies provisions relating to the sale of property to satisfy liens on stored property
Bill Details
Sponsor
LR Number
1801S.01I
Title
SB 460
House Handler
N/A
Journal Page
Effective Date
August 28, 2023
Committee
Current Status
Second Read and Referred S Emerging Issues Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 460 - 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 HB 1120 (2023), SB 885 (2022), HCS/SS#2/SCS/SB 968 (2022), HB 1689 (2022), the perfected HCS/HB 2289 (2022), SB 594 (2021) and HB 1135 (2021), and substantially similar to the perfected HB 1120 (2023).
JULIA SHEVELEVA