Page:United States Statutes at Large Volume 80 Part 1.djvu/1166

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PUBLIC LAW 89-719-NOV. 2, 1966

[80 STAT.

principal executive office of the business is located, and the residence of a taxpayer whose residence is without the United States shall be deemed to be in the District of Columbia. "(3) FORM.—The form and content of the notice referred to in subsection (a) shall be prescribed by the Secretary or his delegate. Such notice shall be valid notwithstanding any other provision of law regarding the form or content of a notice of lieii. " (g) REFILING OF NOTICE.—For purposes of this section— " (1) GENERAL RULE.—Unless notice of lien is refiled in the manner prescribed in paragraph (2) during the required refiling period, such notice of lien shall be treated as filed on the date on which it is filed (in accordance with subsection (f)) after the expiration of such refiling period. "(2) PLACE FOR FILING.—A notice of lien refiled during the required refiling period shall be effective only— '"(A) if such notice of lien is refiled in the office in which the prior notice of lien was filed; and " (B) in any case in which, 90 days or more prior to the date of a refiling of notice of lien under subparagraph (A), the Secretary or his delegate received written information (in the manner prescribed in regulations issued by the Secretary or his delegate) concerning a change in the taxpayer's residence, if a notice of such lien is also filed in accordance with subsection (f) in the State in which such residence is located. "(3) RrxiuiRED REFILING PERIOD.—In the case of any notice of lien, the term 'required refiling period' means— " (A) the one-year period ending 30 days after the expiration of 6 years after the date of the assessment of the tax, and " (B) the one-year period ending with the expiration of 6 years after the close of the preceding required refiling period for such notice of lien. "(4) TRANSITIONAL RULE.—Notwithstanding paragraph

Post, p. 1132.

(3),

if the assessment of the tax was made before January 1, 1962, the first required refiling period shall be the calendar year 1967. ^'{h) DEFINITIONS.—For purposes of this section and section 6324— "(1) SECURITY INTEREST.—The term 'security interest' means any interest in property acquired by contract for the purpose of securing payment or performance of an obligation or indemnifying against loss or liability. A security interest exists at any time (A) if, at such time, the property is in existence and the interest has become protected under local law against a subsequent judgment lien arising out of an unsecured obligation, and (B) to the extent that, at such time, the holder has parted with money or money's worth. " (2) MECHANIC'S LIENOR.—The term "mechanic's lienor' means any person who under local law has a lien on real property (or on the proceeds of a contract relating to real property) for services, labor, or materials furnished in connection with the construction or improvement of such property. For purposes of the preceding sentence, a person has a lien on the earliest date such lien becomes valid under local law against subsequent purchasers without actual notice, but not before he begins to furnish the services, labor, or materials. "(3) MOTOR VEHICLE.—The term 'motor vehicle' means a selfpropelled vehicle which is registered for highway use under the laws of any State or foreign country. "(4) SECURITY.—The term 'security' means any bond, debenture, note, or certificate or other evidence of indebtedness, issued

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