Current Status Introducing Body:
HouseBill Number: 4983Primary Sponsor: HarrisonType of Legislation: GBSubject: Mortgages, satisfaction ofResiding Body: HouseDate Tabled: 19940531Computer Document Number: GJK/20688SD.94Introduced Date: 19940329Last History Body: HouseLast History Date: 19940531Last History Type: TabledScope of Legislation: StatewideAll Sponsors: HarrisonType of Legislation: General Bill
Bill Body Date Action Description CMN Leg Involved ____ ______ ____________ ______________________________ ___ ____________ 4983 House 19940531 Tabled 4983 House 19940526 Debate adjourned until Tuesday, 19940531 4983 House 19940518 Committee Report: Favorable 25 4983 House 19940329 Introduced, read first time, 25 referred to CommitteeView additional legislative information at the LPITS web site.
May 18, 1994
S. Printed 5/18/94--H.
Read the first time March 29, 1994.
To whom was referred a Bill (H. 4983), to amend Section 29-3-330, Code of Laws of South Carolina, 1976, relating to the methods of entering satisfaction of mortgages, etc., respectfully
That they have duly and carefully considered the same, and recommend that the same do pass:
JAMES H. HODGES, for Committee.
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:
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."
SECTION 2. This act takes effect upon approval by the Governor.