BISMARCK, N.D. (5/3/13)--It's now official. North Dakota Gov. Jack Dalrymple has signed into state law a measure requiring lenders, including credit unions, to file liens and security interests electronically.
He signed House Bill 1136 Tuesday, as expected, said the Credit Union Association of the Dakotas (The Memo May 1). North Dakota is the second state to mandate electronic lien filing, after Colorado.
CUAD supported the bill, which will make three changes:
CUAD noted that the state hopes to have the CIS in operation by July 2014. Credit unions will be instrumental in developing it, said CUAD.