Amendment S-5257 to SF 2497
Providing for an assignment of assets for the benefit of creditors, exempting the related tax on the transfer of real estate, and including effective date provisions
Pending
Filed May 3, 2026 in the Senate by
What it changes
- Page 7, line 10, by striking “may” and inserting “shall”
- Page 24, after line 7 by inserting: “
- Upon completion of the assignee’s duties, the assignor is entitled to obtain or effect the termination of any financing statement filed by the assignee under section 681A.6 to the same extent that a debtor would be entitled to obtain or effect the filing of a termination statement under section 554.9509, subsection 4, paragraph “b” , or section 554.9513 upon satisfaction of the secured obligations.” -1- SF 2497.4526.H (1) 91 md 1/ 1