§ 2071 - Penalty for failure to discharge security agreement
§ 2071. Penalty for failure to discharge security agreement
When the condition of a security agreement has been fulfilled, within 30 days thereafter, the secured party shall cause the security agreement to be discharged of record. A person who neglects or refuses so to do shall be fined not more than $50.00 nor less than $5.00. (1966, No. 29 (Sp. Sess.), § 19, eff. at midnight on Dec. 31, 1966.)