2017 ORS 87.076¹
Bond or deposit of money
  • amount
  • demand for release of lien
  • effect

(1) The owner of an improvement or land against which a lien perfected under ORS 87.035 (Perfecting lien) is claimed, or an interested person, may file with the recording officer of the county in whose office the claim of lien is filed a bond executed by a corporation authorized to issue surety bonds in the State of Oregon to the effect that the principal or principals on the bond shall pay the amount of the claim and all costs and attorney fees that are awarded against the improvement or land on account of the lien. The bond shall be in an amount not less than 150 percent of the amount claimed under the lien, or in the amount of $1,000, whichever is greater.

(2)(a) In lieu of the surety bond provided for in subsection (1) of this section, the owner of an improvement or land against which a lien perfected under ORS 87.035 (Perfecting lien) is claimed, or an interested person, may deposit with the treasurer of the county in which the claim of lien is filed a sum of money or the equivalent of money equal in value to 150 percent of the amount claimed under the lien, or in the amount of $1,000, whichever is greater.

(b) A person who makes a deposit under paragraph (a) of this subsection is entitled to any investment income. The treasurer shall pay the investment income to the person who makes the deposit at the time the treasurer, in accordance with ORS 87.083 (Foreclosure after filing of bond or deposit of money), distributes the money deposited under this subsection. The person who makes the deposit bears the risk for a loss that results from an investment of the money deposited.

(3) A person may file a bond or deposit money under subsection (1) or (2) of this section at any time after the claim of lien is filed under ORS 87.035 (Perfecting lien).

(4)(a) A person entitled to post a bond under subsection (1) of this section or a cash deposit under subsection (2) of this section may deliver pursuant to ORS 87.018 (Delivery of notices) a written demand to the lien claimant that a lien perfected under ORS 87.035 (Perfecting lien) be released and a notice that if the lien is not released the person may recover the actual costs the person incurred in complying with this section and ORS 87.078 (Notice of filing bond or depositing money) and 87.081 (Filing affidavit with county officer) or the sum of $500, whichever is greater. If the lien is not released within 10 days after the demand and notice is delivered and the lien claimant or an assignor of the lien claimant does not bring a suit to foreclose the lien within the time provided in ORS 87.055 (Duration of lien), and if the person who made the demand has complied with this section and ORS 87.078 (Notice of filing bond or depositing money) and 87.081 (Filing affidavit with county officer), then the lien claimant or assignor of the lien claimant who fails to release or foreclose the lien is liable to the person for the actual costs the person incurred in complying with this section and ORS 87.078 (Notice of filing bond or depositing money) and

1 Legislative Counsel Committee, CHAPTER 87—Statutory Liens, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors087.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.