Amendment AA1-AB723

LRBa1057/1

PJD:kmg:jf

2001 - 2002 LEGISLATURE

ASSEMBLY AMENDMENT 1, TO 2001 ASSEMBLY BILL 723

March 5, 2002 - Offered by Committee on Financial Institutions.

AB723-AA1,1,1 At the locations indicated, amend the bill as follows:

AB723-AA1,1,4 1. Page 1, line 8: delete "institutions" and substitute "institutions, and when the disposition of collateral by a creditor discharges a subordinate lien held by the state or a local governmental unit".

AB723-AA1,1,5 2. Page 7, line 24: after that line insert:

AB723-AA1,1,7 " Section 18m. 409.617 (1) (c) of the statutes, as affected by 2001 Wisconsin Act 10, is amended to read:

AB723-AA1,1,10 409.617 (1) (c) Discharges any subordinate security interest or other subordinate lien other than liens held by this state or a local governmental unit, as defined in s. 19.42 (7u).".

AB723-AA1,1,11 (End)