74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
 
HA to HB 2090
 
LC 933/HB 2090-4
 
                       HOUSE AMENDMENTS TO
                         HOUSE BILL 2090
 
    By COMMITTEE ON GOVERNMENT ACCOUNTABILITY AND INFORMATION
                           TECHNOLOGY
 
                            April 20
 
  On page 1 of the printed bill, delete lines 7 through 16 and
insert:
  '  { +  SECTION 2. + }  { + (1) The Secretary of State may
refuse to file a document delivered for filing under ORS chapters
58, 60, 62, 63, 65, 67, 70, 79, 87, 194, 305, 465, 466, 475, 554,
596, 634, 647, 648, 657 or 713 or under ORS 30.630, 80.115,
80.118 or 128.595 if the document contains a Social Security
number, a state identification number, a driver license number, a
credit or debit card number or an account number that is not
redacted.
  ' (2) For purposes of this section, 'redacted' means altered or
truncated so that not more than the last four digits of a number
are accessible. + } ' .
  On page 10, delete lines 10 through 42 and insert:
  '  { +  SECTION 15. + } ORS 80.115 is amended to read:
  ' 80.115. (1) An effective financing statement for farm
products as defined in ORS 80.100 is sufficient to register a
security interest in a farm product if the statement:
  ' (a) Contains the name and address of the secured party;
  ' (b) Contains the name and address of   { - the person
indebted to the secured party - }  { +  each person, whether or
not a debtor, subjecting the farm products to the security
interest + };
  ' (c) Contains the   { - Social Security number of the debtor
or, in the case of a debtor doing business other than as an
individual, the Internal Revenue Service taxpayer identification
number of the debtor - }  { +  approved unique identifier of each
person described in paragraph (b) of this subsection + };
  ' (d) Describes the farm products subject to the security
interest created by the debtor, including the amount of the farm
products when applicable, and identifies the county in this state
in which the farm products are produced or located;
  ' (e) Is signed, authorized or otherwise authenticated by the
  { - secured party - }  { +  debtor + };
  ' (f) Is an original or reproduced copy of the original; and
  ' (g) Is accompanied by the required filing fee.
  ' (2) An effective financing statement must be amended in
writing within three months, similarly signed, authorized or
otherwise authenticated, and filed, to reflect material changes.
  ' (3) An effective financing statement for farm products
remains effective for a period of five years from the date of
filing, subject to extensions for additional periods of five
years each by refiling or filing a continuation statement within
six months before the expiration of the five-year period.
  ' (4) An effective financing statement for farm products lapses
on either the expiration of the effective period of the statement
or the filing of a notice signed, authorized or otherwise
authenticated by the secured party that the statement has lapsed,
whichever occurs first. Unless otherwise provided in writing
between the secured party and the debtor, a statement that the
effective financing statement has lapsed shall be filed within 15
days after there is no outstanding secured obligation and no
commitment to make advances, incur obligations or otherwise give
value under the security interest.
  ' (5) The Secretary of State shall, by rule, prescribe the
filing fee for each effective financing statement for farm
products or change to and continuation of the effective financing
statement, and the filing fee for the notice that the effective
financing statement has lapsed. Each effective financing
statement may reflect more than one type of farm product. The
filing fee shall be per debtor name.
  ' (6) An effective financing statement is sufficient if it
complies with this section even though it contains minor errors
that are not seriously misleading.
  '  { +  (7) The requirement under this section that a document
be signed, authorized or otherwise authenticated by the debtor or
the secured party is satisfied if the debtor has executed a
security agreement granting a security interest in the farm
products to the secured party. + } ' .
                         ----------