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NCS COVID-19 State and County Updates
July 26, 2021
In 2021, several states have enacted legislative updates to their mechanic’s lien and bond claim statutes. We’ve previously discussed some of the big changes (ahem, yes Arkansas, Iowa, and Texas …
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July 12, 2021
Originally published in The Credit Research Foundation’s Perspective newsletter (June 2021) The Credit Research Foundation recently surveyed their membership on the use and impact of securitization (UCCs, mechanic’s lien, etc.) …
July 5, 2021
Arkansas recently passed two House Bills. HB 1835, which changes the notice requirement for residential contractor’s lien, and HB 1855, which revises the bonding procedure for payment bonds issued for …
June 7, 2021
*Post updated 6/16/2021 to include official enactment* For several years, the Texas legislature has been trying to pass amendments to its mechanic’s lien statute, and finally change is on its …
May 24, 2021
Recently, members of The Credit Research Foundation (CRF) posed questions to NCS Experts. “In an average year, mechanic’s lien filings are high in Q1, low in Q2 & Q3, and …
May 17, 2021
Iowa Governor, Kim Reynolds, has signed HF 561 into law. The bill contains two key changes to Iowa’s mechanic’s lien law. Though the new statute won’t take effect until January …
May 10, 2021
Did the March 20, 2020 Executive Order issued by Governor Andrew Cuomo toll the mechanic’s lien clock for lien claimants? In a recent New York Supreme Court decision, the answer …
April 5, 2021
What happens when your preliminary notice is late? In Minnesota, you may lose your mechanic’s lien rights. One lien claimant served its Minnesota prelien notice 27 days too late and …
March 22, 2021
We are frequently asked whether punch list or warranty work will extend the mechanic’s lien deadline. Generally, punch list items and warranty work aren’t considered substantial last furnishings which could …
March 15, 2021
Construction projects generally fall into one of three categories: private, public, or federal. These categories identify the project type and help determine whether you would secure mechanic’s lien or bond …
February 15, 2021
In January 2021, Loves Furniture, Inc. (Loves) filed for Chapter 11 bankruptcy protection. The bankruptcy petition indicates Loves has between 100-199 creditors, estimated assets between $10,000,001-$50M, estimated liabilities between $10,000,001-$50M, …
February 1, 2021
Some construction projects can take weeks, months, or years to complete, others like the American Dream in New Jersey, can take decades. American Dream is a Nickelodeon branded mega-mall and …
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