Determination of adequacy of bond
(1) If a lien claimant considers the bond filed with a recording officer of a county under ORS 87.177 (Bond or deposit of money for lien for storage of chattel) (1) to (3) inadequate to protect the claim of the lien claimant for some reason other than the amount of the bond, the lien claimant may petition the court in which the suit to foreclose the lien for the storage of the chattel may be brought for a determination of the adequacy of the bond. The petition must be filed within 10 days of receipt of the notice of the filing of the bond under ORS 87.177 (Bond or deposit of money for lien for storage of chattel) (4) and (5). The petition must describe in detail the reasons for the inadequacy.
(2) Not later than two days after the filing of the petition with the court, the lien claimant shall send a notice of the filing and a copy of the petition by registered or certified mail to the person who filed the bond. After a hearing, if the court determines that the bond is inadequate for one or more of the reasons described by the lien claimant, the court shall order such action as shall make the bond adequate to protect the claim of lien. [2003 c.193 §6]
Note: See note under 87.177 (Bond or deposit of money for lien for storage of chattel).
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