xXTheoryXx
Citizen
Speaker of the House
Representative
Commerce Department
Construction & Transport Department
xXTheoryXx
Speaker
- Joined
- Feb 18, 2026
- Messages
- 206
- Thread Author
- #1
CONGRESS OF THE
COMMONWEALTH OF REDMONT
A BILL TO
To Establish a Framework for the Creation, Registration, Priority, and Enforcement of Property Liens
The people of the Commonwealth of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:
PART I: PRELIMINARIES
1 - Short Title and Enactment
(1) This Act may be cited as the 'Property Lien Act'.
(2) This Act shall be enacted 7 days after its signage, to allow the Department of Commerce reasonable time to establish the Lien Registry. The provisions relating to Plugin-Perfected Liens shall come into effect upon certification of the SIH Agent system under Part IX Section 3.
(3) This Act has been authored by Speaker of the House of Representatives xXTheoryXx.
(4) This Act has been co-sponsored by President of the Senate Talion77.
(5) This Act amends or is intended to coordinate with the following:
(a) Amends the Criminal Code Act.
(b) Amends the Redmont Civil Code Act.
(c) Coordinates with the Bankruptcy Act.
(d) Coordinates with the Legal Entity Act.
(e) Coordinates with the Debt Recovery Quick Fix Act.
(f) Coordinates with the Taxation Act.
(g) Coordinates with the Tenant Rights Act.
2 - Reasons and Intent
(1) The Commonwealth has no comprehensive framework for the creation, registration, or enforcement of property liens. Secured lending currently operates on private agreement alone, with no public registry and no clear priority rules.
(2) Without a registry, third-party purchasers and creditors cannot reliably know what claims exist against a debtor's property. This drives up the cost of credit and increases the risk of fraud.
(3) Workers who perform services and are not paid have no automatic security against the property on which they worked. This bill creates a Mechanic's Lien to protect them.
(4) The Bankruptcy Act or subsequent acts assumes the existence of "Secured Claims" and "collateral" but no act defines how these come into being. This Act fills that gap.
(5) A clear, transparent lien framework benefits debtors (who know their rights), creditors (who can enforce predictably), and the wider economy (which receives more credit at lower cost).
(6) Where Freehold Collateral is concerned, the realty plugin's typed agent system provides a more efficient mechanism for perfection than central registry maintenance. This Act adopts that mechanism in parallel with a notice-only registry for other forms of collateral.
3 - Definitions
(1) For the purposes of this Act, the following definitions shall apply:
(a) Lien. A legal claim against specific property held as security for the performance of an obligation, giving the Lienholder the right to enforce against that property if the obligation is not satisfied.
(b) Lienholder. The person, entity, or government in whose favor a Lien exists.
(c) Lien Debtor. The owner of property subject to a Lien.
(d) Collateral. The property subject to a Lien.
(e) Security Agreement. A written agreement between a Lien Debtor and a Lienholder creating a Consensual Lien.
(f) Consensual Lien. A Lien created by agreement between the Lien Debtor and the Lienholder.
(g) Statutory Lien. A Lien that arises automatically under this Act or another law, without the need for agreement.
(h) Judicial Lien. A Lien created by court order, including in connection with a money judgment.
(i) Mechanic's Lien. A Statutory Lien arising in favor of a worker, contractor, or service provider for unpaid wages or fees for work performed on property.
(j) Purchase Money Lien. A Consensual Lien securing financing used to acquire the specific Collateral subject to that Lien.
(k) Perfection. The completion of all steps required by this Act to render a Lien enforceable against third parties.
(l) Lien Registry. The public registry of Liens maintained by the Department of Commerce under Part III.
(m) Foreclosure. The process by which a Lienholder enforces a Lien by sale of the Collateral.
(n) Default. A failure by the Lien Debtor to perform the obligation secured by a Lien, as defined in the Security Agreement, by statute, or by court order.
(o) Fair Market Value. As defined in the Bankruptcy Act or subsequent acts, or where the Bankruptcy Act is not in force, the price at which an asset would change hands between a willing buyer and willing seller under arm's length conditions.
(p) Freehold Collateral. Real property held as a freehold, as identified by plot ID in records maintained by the Department of Construction and Transportation.
(q) Non-Freehold Collateral. All other property capable of being Collateral under this Act, including but not limited to vehicles, chattels, accounts receivable, shares in Incorporated Entities, and tenancies.
(r) Security Interest Holder Agent ("SIH Agent"). An agent of the realty plugin's typed agent system, configured as non-dismissible by the titleholder and persistent across ownership transfers, by which a Consensual Lien against Freehold Collateral may be perfected.
(s) Plugin-Perfected Lien. A Consensual Lien against Freehold Collateral perfected by acceptance of an SIH Agent invitation under Part IV Section 1(1)(b).
(t) Registry-Perfected Lien. A Lien perfected by filing in the Lien Registry under Part IV Section 1(1)(a).
PART II: CREATION OF LIENS
1 - Consensual Liens
(1) A Consensual Lien is created when:
(a) The Lien Debtor and Lienholder enter into a written Security Agreement;
(b) The Security Agreement identifies the Collateral with reasonable specificity;
(c) The Security Agreement identifies the obligation secured; and
(d) The Lien Debtor has rights in the Collateral, or has the power to grant rights in the Collateral.
(1A) Where the Collateral is Freehold Collateral, the Security Agreement shall additionally specify whether the Lien is to be perfected by Registry filing, by acceptance of an SIH Agent invitation, or both. Where both methods are elected, the earlier perfection date governs for priority purposes.
(2) A Security Agreement may secure present or future obligations.
(3) A Consensual Lien may be granted by any natural person or Incorporated Entity having capacity to contract.
2 - Statutory Liens
(1) The following Statutory Liens shall arise automatically as provided in this Section:
(a) Tax Lien. Where any tax, penalty, or government fee imposed by the Taxation Act or subsequent acts, or other law, is unpaid for more than 14 days after it becomes due, a Tax Lien shall arise in favor of the Commonwealth against all real property of the Lien Debtor, up to the amount owed.
(b) Mechanic's Lien. Where a worker, contractor, or service provider has performed work on property at the request or with the consent of the property owner, and has not been paid within 14 days of the work being completed, a Mechanic's Lien shall arise in favor of the worker against that property, up to the amount of unpaid wages or fees. A Mechanic's Lien shall not arise against government property, town property, or property held by any governmental entity as defined in the Legal Entity Act or subsequent acts. Workers and contractors with unpaid claims against a governmental entity must pursue payment through the courts or other lawful means.
(c) Landlord's Lien. Where rent owed to a landlord is unpaid for more than 14 days, a Landlord's Lien shall arise against the personal property of the tenant located on the leased premises, up to the amount of unpaid rent. This Lien is subject to the Tenant Rights Act or subsequent acts.
(d) Other Statutory Liens as may be expressly created by future Acts of Congress.
(2) Statutory Liens shall be perfected by filing in the Lien Registry within 14 days of arising. Failure to file within that window does not extinguish the Lien between the parties, but renders it unenforceable against third parties.
(3) Special Requirements for Mechanic's Liens. Where a Mechanic's Lien is claimed for an amount exceeding $5,000 and the Lienholder cannot produce a written work agreement signed by the property owner or their authorised agent, the Lienholder may perfect the Mechanic's Lien only after obtaining a court order from the Federal Court of Redmont recognising the work performed and the amount owed. The 14-day filing window under Subsection (2) of this Section is tolled during any period in which an application for such court order is pending before the court.
3 - Judicial Liens
(1) A Judicial Lien arises when:
(a) A court of competent jurisdiction enters a money judgment against a person;
(b) The judgment creditor files a Notice of Judicial Lien with the Lien Registry; and
(c) The Notice identifies the property to be encumbered with reasonable specificity.
(2) A Judicial Lien may be sought as part of the Debt Recovery Quick Fix Act or subsequent acts process, or independently after judgment.
(3) A Judicial Lien attaches only to property in which the judgment debtor has present or future rights.
4 - Anti-Circumvention
(1) Any provision in a Security Agreement, loan contract, or similar instrument that purports to grant a Lienholder rights beyond those provided by this Act, or that purports to waive protections granted to the Lien Debtor by this Act, shall be void and unenforceable. Without limiting the generality of the foregoing, the following provisions are specifically void:
(a) Provisions that require the Lien Debtor to both surrender Collateral and satisfy a judgment for the same underlying obligation. A Lienholder enforcing a Lien shall be limited to the value of the Collateral recovered through foreclosure plus any deficiency claim, with the deficiency recoverable only as an unsecured personal obligation of the Lien Debtor under Part V Section 4(2);
(b) Provisions purporting to waive the Lien Debtor's right of redemption under Part V Section 2;
(c) Provisions purporting to waive the Lien Debtor's right to receive surplus proceeds under Part V Section 4(1)(d);
(d) Provisions purporting to authorise private foreclosure without court order, in violation of Part V Section 3(3); and
(e) Provisions purporting to allow the Lienholder to retain both the Collateral and the proceeds of any sale of the Collateral.
(2) A Lienholder who attempts to enforce a provision void under Subsection (1) may be liable to the Lien Debtor for actual damages caused, and may be subject to charges under Part VII Section 30 (Unauthorized Private Foreclosure) of this Act where applicable.
(3) Severability of void provisions does not invalidate the remainder of an otherwise valid Security Agreement or loan contract; the agreement shall be enforced with the void provisions struck.
PART III: THE LIEN REGISTRY
1 - Establishment
(1) The Department of Commerce shall establish and maintain a public Lien Registry.
(2) The Registry shall be searchable by:
(a) The name of the Lien Debtor;
(b) The identifier of the Collateral (plot ID, or equivalent); and
(c) The name of the Lienholder.
(3) The Registry shall be free to search and accessible to all citizens.
(4) The Registry shall include a public read-only mirror of all active SIH Agent assignments under Part IV Section 1(1A), sourced directly from plugin data.
2 - Filing Requirements
(1) A filing to perfect a Lien shall include:
(a) The name of the Lien Debtor;
(b) The name of the Lienholder;
(c) A description of the Collateral sufficient to identify it;
(d) The amount or maximum amount secured;
(e) The date the Lien arose; and
(f) For Consensual Liens, a copy or summary of the Security Agreement.
(2) The Department of Commerce may charge a reasonable filing fee, not to exceed $500 per filing, to cover administrative costs. The Department may set differential fees by Lien type, subject to this cap.
(3) No Lien shall be filed in the Lien Registry for an obligation of less than $100. Obligations below this threshold shall be pursued through ordinary debt collection mechanisms.
3 - Public Access and Errors
(1) Any person may search the Registry without charge.
(2) A Lien Debtor or any party adversely affected by a filing may apply to the Department of Commerce to correct or remove an erroneous filing. The Department shall act on such application within 14 days.
(3) An aggrieved party may appeal a Department decision under this Section to the Federal Court of Redmont.
4 - Nature of Registry
(1) The Lien Registry is a notice-only system. Registration of a Lien does not constitute Commonwealth verification, approval, or certification of its validity, enforceability, or priority.
(2) The burden of proving the validity and enforceability of any Lien rests solely with the Lienholder.
(3) No Commonwealth department or agency is required to investigate or verify the underlying validity of any Lien beyond the records of the Lien Registry. Administrative actions taken in reliance on the Registry do not constitute Commonwealth certification of validity.
(4) Disputes regarding any Lien must be determined by a court of competent jurisdiction unless otherwise provided by law.
PART IV: PERFECTION AND PRIORITY
1 - Perfection
(1) A Lien is perfected:
(a) Upon proper filing in the Lien Registry; or
(b) For Consensual Liens against Freehold Collateral, upon acceptance by the Lien Debtor of an SIH Agent invitation issued by the Lienholder through the realty plugin's typed agent system, once such system has been certified operational by the Department of Commerce under Part IX Section 3.
(1A) A Plugin-Perfected Lien shall be treated as if filed in the Lien Registry on the date and time of SIH Agent acceptance, for purposes of priority and notice. The Department of Commerce shall publish a public read-only mirror of all active SIH Agent assignments as a sub-component of the Lien Registry, sourced directly from plugin data.
(2) An unperfected Lien remains enforceable between the Lien Debtor and the Lienholder, but is subordinate to:
(a) Any later-perfected Lien;
(b) Any subsequent good-faith purchaser of the Collateral for value without notice of the Lien; and
(c) The trustee in any bankruptcy of the Lien Debtor.
(3) A Lien shall be deemed perfected on the date of Registry filing or, for Plugin-Perfected Liens, the date and time of SIH Agent acceptance.
2 - Priority Rules
(1) As between competing perfected Liens on the same Collateral, priority is determined by the date and time of filing, with the earliest-perfected Lien having highest priority. This is the First-in-Time Rule. Perfection occurs at the time of Registry filing for Registry-Perfected Liens, and at the time of SIH Agent acceptance for Plugin-Perfected Liens.
(2) The First-in-Time Rule is subject to the following exceptions:
(a) Mechanic's Lien Super-Priority. A Mechanic's Lien perfected within 14 days of arising shall take priority over all other Liens on the same Collateral that were perfected within the 1 month period prior to the Mechanic's Lien arising. This protects workers from creditors who would otherwise scoop up all the debtor's property as security.
(b) Purchase Money Lien Super-Priority. A Purchase Money Lien perfected within 14 days of the Lien Debtor acquiring the Collateral shall take priority over all earlier-perfected Liens against that specific Collateral.
(c) Tax Lien Priority. A Tax Lien shall take priority over all Consensual Liens and Judicial Liens perfected after the date the underlying tax became due, regardless of when the Tax Lien itself was perfected. This does not affect a Mechanic's Lien or Purchase Money Lien with super-priority.
3 - Purchase Money Liens
(1) A Lien qualifies as a Purchase Money Lien if:
(a) The obligation secured is for funds advanced to enable the Lien Debtor to acquire the specific Collateral; and
(b) The funds were in fact applied to such acquisition.
(2) The Security Agreement must identify the Lien as a Purchase Money Lien at the time of perfection.
PART V: ENFORCEMENT
1 - Default
(1) A Default occurs when the Lien Debtor fails to perform the secured obligation. The definition of Default may be specified in the Security Agreement, by statute, or by the terms of a court order.
(2) Upon Default, the Lienholder may commence enforcement proceedings under this Part.
2 - Notice and Cure
(1) Before enforcing a Lien, the Lienholder shall give written notice to the Lien Debtor stating:
(a) The nature of the Default;
(b) The amount required to cure;
(c) The date by which cure must be made, being not less than 14 days from the date of notice; and
(d) That foreclosure will follow if the Default is not cured.
(2) The Lien Debtor has the right to cure the Default by paying the amount owed plus reasonable costs at any time before the foreclosure sale concludes.
(3) Notice may be given by:
(a) In-game mail;
(b) Discord message; or
(c) Forum private message.
3 - Foreclosure Sale
(1) Where a Default is not cured within the notice period, the Lienholder may seek a foreclosure sale of the Collateral.
(2) Foreclosure shall be conducted by the Department of Construction and Transportation through its auction system, or by such other public auction mechanism as the Department of Commerce may approve.
(3) The Lienholder may not conduct a private foreclosure sale without an order of the Federal Court of Redmont.
(4) Notice of the foreclosure sale shall be posted in the Lien Registry and in #government-announcements (or successor channel) at least 14 days before the sale.
(5) The Lien Debtor may attend the sale, may bid, and may redeem the Collateral at any time before the hammer falls by paying the amount owed plus costs.
4 - Distribution of Proceeds
(1) Proceeds of a foreclosure sale shall be distributed in the following order:
(a) Costs of sale, including auction fees;
(b) The Lienholder conducting the foreclosure, up to the amount of their secured claim;
(c) Junior Lienholders, in order of priority, up to the amount of their secured claims; and
(d) Any surplus to the Lien Debtor.
(2) Where the sale proceeds are insufficient to satisfy the foreclosing Lienholder's claim, the deficiency shall remain a personal obligation of the Lien Debtor, enforceable as an unsecured claim.
5 - Eviction and Liened Property
(1) The existence of a Lien shall not prevent, stay, or otherwise affect the eviction, auction, sellback, or other lawful transfer of property by the Department of Construction and Transportation. Such proceedings shall proceed in the ordinary course, and no injunction shall issue solely on the basis that the property is subject to a Lien.
(2) Plugin-Perfected Liens require no administrative action by the Department of Construction and Transportation upon transfer of Freehold Collateral. The SIH Agent persists through the transfer by operation of the realty plugin, and any purchaser at auction or otherwise takes the property subject to the Plugin-Perfected Lien.
(3) For Registry-Perfected Liens against Freehold Collateral being auctioned, sold back, or otherwise transferred by the Department of Construction and Transportation, the following applies:
(a) The Department shall not be required to search the Lien Registry in the ordinary course of disbursement;
(b) A Lienholder who wishes to recover from the proceeds of a Departmental transfer must notify the Department of Construction and Transportation in writing, citing the Lien's Registry filing, no later than 48 hours before the scheduled disbursement of proceeds;
(c) Upon receipt of timely notice under paragraph (b), the Department shall hold sufficient proceeds in escrow with the Department of Commerce pending verification of the Lien and distribution under Part V Section 4;
(d) Where no timely notice is received, the Department may disburse proceeds in the ordinary course, and the Lienholder loses their security in the proceeds but retains an unsecured personal claim against the previous owner under Part V Section 4(2).
(4) The 48-hour notice requirement under Subsection (3)(b) does not apply to Tax Liens, which the Department of Commerce shall identify and assert directly through its existing coordination with the Department of Construction and Transportation.
(5) For Registry-Perfected Liens against Non-Freehold Collateral, this Section does not apply; enforcement is governed by Sections 1 through 4 of this Part.
PART VI: RELEASE, EXPIRATION, AND DISCHARGE
1 - Automatic Release
(1) A Lien shall automatically release upon satisfaction in full of the secured obligation.
(2) The Lienholder shall, within 14 days of satisfaction of the secured obligation:
(a) For Registry-Perfected Liens, file a Release of Lien in the Lien Registry; and
(b) For Plugin-Perfected Liens, release the SIH Agent through the realty plugin by such means as the plugin permits, including unilateral release by the Lienholder, mutual release with the Lien Debtor, or other release mechanism made available by the plugin.
(3) Failure to file a timely Release or release the SIH Agent is a violation of this Act.
2 - Voluntary Release
(1) A Lienholder may release a Lien at any time by filing a Release of Lien in the Lien Registry or by releasing the SIH Agent through the realty plugin, as applicable to the perfection method.
3 - Expiration
(1) A perfected Lien expires 6 months after its perfection date unless renewed.
(2) A Lien may be renewed for additional 6 month periods by filing a Notice of Renewal in the Lien Registry, or by the equivalent renewal mechanism in the realty plugin where one exists, before the expiration date.
(3) An expired Lien may be re-perfected, but loses its original priority date.
4 - Court-Ordered Discharge
(1) The Federal Court of Redmont may order the discharge of a Lien upon application by any interested party where:
(a) The Lien was created or perfected by fraud or mistake;
(b) The secured obligation has been satisfied but the Lienholder refuses to release;
(c) The Lien has been declared invalid; or
(d) The Lien is so old or unenforceable that it constitutes a cloud on title.
(2) Court-ordered discharge orders are appealable to the Supreme Court of Redmont within 14 days.
5 - Survival of Liens After Eviction
(1) A Lien shall survive the eviction of the Lien Debtor from the Collateral.
(2) Any return of the Collateral to the original owner is subject to satisfaction of all surviving Liens.
(3) Where the Collateral has been auctioned following eviction, the original owner's claim is against the proceeds, subject to Lien priority under Part V Section 5 of this Act, not against the Collateral itself.
PART VII: CRIMINAL CODE ACT AMENDMENTS
1 - New Offences
(1) The Criminal Code Act or subsequent acts is hereby amended to include the following offences:
28 - False Lien Filing
Offence Type: Indictable
Penalty: Up to 300 Penalty Units; up to 30 minutes imprisonment; cancellation of the false filing
A person commits an offence if the person:
(a) knowingly files a Lien in the Lien Registry, or accepts or causes acceptance of an SIH Agent invitation, that does not arise under the Property Lien Act; or
(b) knowingly perfects a Lien for an amount materially greater than is owed; or
(c) knowingly perfects a Lien against property in which the Lien Debtor has no interest, with intent to harass or defraud.
Relevant Law: Act of Congress - Property Lien Act
29 - Failure to Release a Satisfied Lien
Offence Type: Summary
Penalty: Up to 100 Penalty Units; restitution of any damage caused
A person commits an offence if the person:
(a) being a Lienholder, fails to file a Release of Lien or release the relevant SIH Agent within 14 days of the secured obligation being satisfied; and
(b) the failure is willful or in reckless disregard of the Lien Debtor's interests.
Relevant Law: Act of Congress - Property Lien Act
30 - Unauthorized Private Foreclosure
Offence Type: Indictable
Penalty: Up to 200 Penalty Units; up to 30 minutes imprisonment; restitution of Fair Market Value of the Collateral
A person commits an offence if the person:
(a) seizes, sells, or otherwise disposes of Collateral subject to a Lien without following the foreclosure procedures of the Property Lien Act and without an order of the Federal Court.
Relevant Law: Act of Congress - Property Lien Act
PART VIII: COORDINATION WITH OTHER ACTS
1 - Bankruptcy Act
(1) Liens created under this Act constitute Secured Claims under the Bankruptcy Act or subsequent acts.
(2) The filing of a bankruptcy petition by or against a Lien Debtor invokes the automatic stay under the Bankruptcy Act or subsequent acts, halting foreclosure proceedings under Part V of this Act.
(3) During bankruptcy, the treatment of secured Collateral, including the Worker Carve-Out, is governed by the Bankruptcy Act or subsequent acts and supersedes the foreclosure procedures of this Act.
2 - Legal Entity Act
(1) The power of an Incorporated Entity to create a security interest under the Legal Entity Act or subsequent acts is exercised through this Act.
(2) Liens against the property of an Incorporated Entity that is in receivership are subject to the receivership procedures of the Legal Entity Act or subsequent acts.
3 - Debt Recovery Quick Fix Act
(1) A Judicial Lien may be obtained as part of debt recovery proceedings under the Debt Recovery Quick Fix Act or subsequent acts.
(2) Asset seizure under the Debt Recovery Quick Fix Act or subsequent acts does not displace the priority of a previously perfected Lien.
4 - Taxation Act
(1) Tax Liens under this Act do not affect the Department of Commerce's existing powers under the Taxation Act or subsequent acts, including powers of seizure, sale, and commandeer over financial institutions.
(2) Foreclosure sales conducted under Part V of this Act are exempt from the Eviction Tax and the Auction Levy under the Taxation Act or subsequent acts. Foreclosure sales are court-supervised distributions to satisfy lawful debts and are not ordinary evictions of inactive players walking away with proceeds.
(3) Where foreclosure sales are conducted through the Department of Construction and Transportation auction system, reasonable administrative costs incurred by the Department may be deducted from proceeds under Part V Section 4(1)(a) of this Act before distribution to Lienholders.
5 - Tenant Rights Act
(1) Landlord's Liens under this Act shall be exercised in accordance with the Tenant Rights Act or subsequent acts, including any provisions for tenant protections, notice, and dispute resolution.
6 - Redmont Civil Code Act
(1) This Act constitutes a specialised statutory framework. Where this Act and the Redmont Civil Code Act or subsequent acts address the same matter, this Act prevails to the extent of any inconsistency. Rights, remedies, causes of action, procedures, and limitation periods established by this Act are operative notwithstanding any provision of the Redmont Civil Code Act or subsequent acts to the contrary.
(2) Part II, Section 3(2) of the Redmont Civil Code Act, as amended by the Bankruptcy Act, is further amended as follows:
"(2) Any civil violation purportedly created by another Act of Congress shall be null and void unless incorporated as an amendment to this Code, except for rights, remedies, causes of action, and procedures established under the Bankruptcy Act or the Property Lien Act."
PART IX: TRANSITION, PLUGIN IMPLEMENTATION, AND SEVERABILITY
1 - Transition
(1) Liens or security interests existing under private agreement prior to this Act's enactment shall be deemed valid as between the parties.
(2) Pre-existing Liens must be perfected under Part IV of this Act within 1 month of this Act's enactment to be enforceable against third parties.
(3) The priority date of a pre-existing Lien perfected during the transition period shall be the date of original creation, where supported by documentary evidence. After the transition period, the priority date shall be the date of perfection.
2 - Department of Commerce Rulemaking
(1) The Department of Commerce shall have rulemaking authority to:
(a) Establish forms and technical specifications for filings;
(b) Set fee schedules subject to the cap in Part III Section 2;
(c) Govern the operation of the Lien Registry, including the SIH Agent mirror under Part III Section 1(4); and
(d) Issue guidance on the implementation of this Act.
(2) All rules must serve a legitimate government purpose and be reasonably tailored to that purpose.
3 - Plugin Implementation
(1) The Department of Commerce, in coordination with the plugin maintainers and the Department of Construction and Transportation, shall pursue implementation of the Security Interest Holder Agent type as described in this Act.
(2) Until the Department of Commerce certifies the SIH Agent system as operational, all Consensual Liens against Freehold Collateral shall be perfected by Registry filing under Part IV Section 1(1)(a).
(3) Upon certification of the SIH Agent system, the Department of Commerce shall publish notice in #government-announcements (or successor channel). Lienholders with existing Registry-Perfected Liens against Freehold Collateral shall have 14 days from such notice within which to migrate their Liens to Plugin-Perfected status, retaining their original perfection date. After the migration period, freshly created Consensual Liens against Freehold Collateral shall be Plugin-Perfected only; this restriction does not affect Statutory Liens or Judicial Liens, which remain Registry-Perfected in all cases.
(4) The Department of Commerce may stage or delay the migration deadline under Subsection (3) by rule, but shall not extend the deadline beyond 1 month from certification without further Act of Congress.
(5) Failure of the plugin implementation to reach operational certification within 3 months of this Act's enactment shall trigger a mandatory review by the Department of Commerce, which shall report to Congress on whether the SIH Agent approach should be retained, modified, or abandoned in favor of permanent Registry-only perfection.
4 - Severability
(1) If any provision of this Act is held invalid or unconstitutional, the remainder shall continue in full force and effect.
Last edited by a moderator:
