52-1008. Lien satisfied; termination statement; procedure.

When a federal lien registered pursuant to the Uniform Federal Lien Registration Act is satisfied, the holder of the lien may on written demand by the debtor send the debtor a termination statement to the effect that he or she no longer claims a security interest under the lien, which shall be identified by file number.

On presentation to the register of deeds or to the Secretary of State of such a termination statement, he or she shall note it in the index. If the register of deeds or the Secretary of State has received the termination statement in duplicate, he or she shall return one copy of the termination statement to the lienholder stamped to show the time of receipt.

Source:Laws 1985, LB 606, § 14; Laws 1988, LB 933, § 9; Laws 1998, LB 1321, § 87; Laws 1999, LB 550, § 24.