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Current as of January 01, 2023 | Updated by Findlaw Staff
(1) From and after recording of the notice of lien pursuant to ORS 526.745, the Forest Resource Trust has a lien for the moneys payable to the trust by the forestland owner under the terms of the contract.
(2) The lien created by subsection (1) of this section constitutes a general lien upon all forest products grown or growing on the forestland described in the contract, whether standing on the forestland, severed and remaining on the forestland, severed and transported to another area for sale or processing, or made into forest products on the forestland. If the forest product is severed and delivered to a purchaser or mill, the lien continues against the forest product and the lien also attaches to accounts receivable evidencing indebtedness of the purchaser or mill. The lien attaches to the accounts receivable on the date on which the forestland owner sells the forest products and relates to the date on which notice of lien was filed under ORS 526.745.
Cite this article: FindLaw.com - Oregon Revised Statutes Forestry and Forest Products § 526.740 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-44-forestry-and-forest-products/or-rev-st-sect-526-740/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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