Bill 1312

                    Current Status
Introducing Body:               Senate
Bill Number:                    1312
Ratification Number:            550
Act Number:                     478
Primary Sponsor:                Land
Type of Legislation:            GB
Subject:                        Mortgages, satisfaction of
Date Bill Passed both Bodies:   19940602
Computer Document Number:       GJK/20685SD.94
Governor's Action:              S
Date of Governor's Action:      19940714
Introduced Date:                19940330
Last History Body:              ------
Last History Date:              19940714
Last History Type:              Act No. 478
Scope of Legislation:           Statewide
All Sponsors:                   Land
Type of Legislation:            General Bill

Bill   Body    Date          Action Description              CMN  Leg Involved
----   ------  ------------  ------------------------------  ---  ------------
1312   ------  19940714      Act No. 478
1312   ------  19940714      Signed by Governor
1312   ------  19940602      Ratified R 550
1312   House   19940602      Read third time, enrolled for
                             ratification
1312   House   19940601      Read second time, unanimous
                             consent for third reading on
                             next Legislative day
1312   House   19940519      Recalled from Committee         25
1312   House   19940412      Introduced, read first time,    25
                             referred to Committee
1312   Senate  19940407      Read third time, sent to House
1312   Senate  19940406      Read second time
1312   Senate  19940405      Recalled from Committee,        11
                             placed on Calendar
1312   Senate  19940330      Introduced, read first time,    11
                             referred to Committee

(A478, R550, S1312)

AN ACT TO AMEND SECTION 29-3-330, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE METHODS OF ENTERING SATISFACTION OF MORTGAGES, SO AS TO PERMIT SATISFACTION OF MORTGAGES RECORDED IN COUNTERPARTS BY SATISFACTIONS EXECUTED IN COUNTERPARTS.

Be it enacted by the General Assembly of the State of South Carolina:

Satisfaction of mortgages recorded in counterparts

SECTION 1. Section 29-3-330 of the 1976 Code is amended by adding a new item to be appropriately lettered to read:

"( ) If the mortgage, deed of trust, or other written instrument was recorded in counterparts, the original of the instrument need not be presented and the satisfaction of it may be evidenced by an instrument of satisfaction, release, or discharge, which may be executed in counterparts, executed by the mortgagee, the holder of the mortgage, the legal representative, or the attorney-in-fact. Upon presentation of the instrument of satisfaction, release, or discharge, or a counterpart of it, the officer or his deputy having charge of the recording of instruments shall record the same."

Time effective

SECTION 2. This act takes effect upon approval by the Governor.

Approved the 14th day of July, 1994.