South Carolina General Assembly
107th Session, 1987-1988

Bill 3837

                    Current Status

Bill Number:               3837
Ratification Number:       672
Act Number                 585
Introducing Body:          House
Subject:                   Relating to the entry of mortgage
                           satisfactions
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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(A585, R672, H3837)

AN ACT TO AMEND SECTION 29-3-350, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE ENTRY OF MORTGAGE SATISFACTIONS UPON THE MORTGAGE INDEXES BY THE REGISTER OF MESNE CONVEYANCES OR THE CLERK OF COURT, SO AS TO PROVIDE THAT IN LIEU OF THE REQUIREMENT THAT THE WORD "CANCELED" TOGETHER WITH THE SIGNATURE OF THE REGISTER OF MESNE CONVEYANCES OR CLERK OF COURT BE ENTERED IN THE INDEXES, THE REGISTER OF MESNE CONVEYANCES OR CLERK OF COURT MAY INSERT AN APPROPRIATE COLUMN ON THE SAME PAGE IN THESE INDEXES SHOWING THE BOOK AND PAGE NUMBER, IF ANY, OF THE SATISFACTION OR CANCELATION.

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

Mortgage satisfaction provisions revised

SECTION 1. Section 29-3-350 of the 1976 Code is amended to read:

"Section 29-3-350. All registers of mesne conveyances and all clerks of court in counties in which the clerks are required to perform the duties of registers of mesne conveyances shall enter the word 'canceled', together with the signature of the officer, upon the margin or across the indexes of real estate mortgages and chattel mortgages, respectively, when the real estate mortgage or chattel mortgage is duly canceled of record by the mortgagee or his assignee. The cancelation and signature must be entered in the margin opposite the names of the mortgagor and mortgagee, respectively, or across these names. A like cancelation, on the demand of the mortgagor or legal representative, must be made on mortgages heretofore canceled of record. In lieu of the above requirements, the register of mesne conveyances or clerk of court

may insert an appropriate column on the same page in these indexes showing the book and page number, if any, of the satisfaction or cancelation. Upon failure of the register of mesne conveyances or clerk of court to comply with this section, in each instance he shall forfeit and pay to the mortgagor the sum of ten dollars to be recovered in any court of competent jurisdiction.

Any clerk or other officer wilfully violating this section, upon conviction, must be fined not more than one hundred dollars or imprisoned not more than thirty days, in the discretion of the court, and the solicitor of each circuit shall see that the law is complied with or shall prosecute violators."

Time effective

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