44-7-5.1. Duty of secretary of state on presentation of certificate of release, nonattachment, withdrawal, discharge, or subordination.
If a certificate of release, nonattachment, withdrawal, discharge, or subordination of any lien is presented to the secretary of state for filing, the secretary of state shall:
(1)Cause a certificate of release, nonattachment, or withdrawal to be marked, held, and indexed as if the certificate were a termination statement within the meaning of the Uniform Commercial Code, but the notice of lien to which the certificate relates may not be removed from the files; and
(2)Cause a certificate of discharge or subordination to be marked, held, and indexed as if the certificate were a release of collateral within the meaning of the Uniform Commercial Code.
Source: SL 1988, ch 355, §5; SL 2005, ch 236, §3.