§ 36-9-111 — UCC lien satisfaction.

South Carolina § 36-9-111

• Jurisdiction: South Carolina
• Title 36: COMMERCIAL CODE
• Ch. 9: COMMERCIAL CODE—SECURED TRANSACTIONS

Text

Any licensed attorney admitted to practice in the State of South Carolina who can provide proof of payment of funds for a Uniform Commercial Code lien filed under the provisions of this chapter by evidence of payment made payable to the holder of record, servicer, or other party entitled to receive payment may record, or cause to be recorded, an affidavit, in writing, duly executed in the presence of two witnesses and probated or acknowledged, which states that full payment of the balance of the debt secured by the lien has been made and that evidence of payment from the servicer or lienholder exists. This affidavit, duly recorded in the appropriate county, shall serve as notice of satisfaction of the lien and release of the lien upon the collateral. The filing of the affidavit shall be sufficient to satisfy, release, or discharge the lien. Upon presentation of the instrument of satisfaction, release, or discharge, the officer or his deputy having charge of the recording of instruments shall record the same. This section may not be construed to create liability for failure to file such affidavit. The licensed attorney signing any such instrument which is false is guilty of perjury and subject to Section 16-9-10 and shall be liable for damages that any person may sustain as a result of the false affidavit, including reasonable attorney's fees incurred in connection with the recovery of such damages. The affidavit referred to in this section shall be as follows: STATE OF SOUTH CAROLINA UCC LIEN COUNTY OF SATISFACTION AFFIDAVIT PURSUANT TO SECTION 36-9-111 OF SC CODE OF LAWS FOR BOOK ____ PAGE _____ The undersigned on oath, being first duly sworn, hereby certifies as follows: 1. The undersigned is a licensed attorney admitted to practice in the State of South Carolina. 2. That with respect to the lien given by __________________ to ______________________ dated _______ and recorded in the offices of the Register of Deeds or Clerk of Court in book _________ at page ________: a. [ ] that the undersigned was given written payoff information and made such payoff and is in possession of a canceled check to the holder of record or representative servicer; b. [ ] that the undersigned was given written payoff information and made such pay off by wire transfer or other electronic means to the holder of record or representative servicer and has confirmation from the undersigned's bank of the transfer to the account provided by the holder of record or representative servicer. Under penalties of perjury, I declare that I have examined this affidavit this ___ day of ____ and, to the best of my knowledge and belief, it is true, correct, and complete. (Witness) (Signature) (Witness) (Name—Please Print) (Attorney's S.C. Bar number) (Street Address) (City, State, Zip Code) (Telephone) SUBSCRIBED AND SWORN TO before me this __________ day of _______________ (Notary Public) My commission expires: Upon presentation to the office of the Register of Deeds or Clerk of Court the Register or Clerk is directed to record pursuant to this section and mark the lien satisfied of record.

Legislative History

HISTORY: 1962 Code SECTION 10.9-111; 1966 (54) 2716; 1988 Act No. 494, SECTION 5; 2001 Act No. 67, SECTION 12. Part 2 Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement Subpart 1 Effectiveness and Attachment