Current as of January 01, 2018 | Updated by FindLaw Staff
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(1) Before a molder may sell a mold pursuant to ORS 87.872, the molder shall notify the customer of the sale by registered mail with return receipt requested. The notice shall include:
(a) The molder's intention to sell the mold 30 days after the customer receives the notice;
(b) A description of the mold to be sold;
(c) The time and place of the sale; and
(d) An itemized statement for the amount due.
(2) If the notice is returned to sender as undeliverable, the molder shall publish the notice in a newspaper of general circulation in the area of the last known place of business of the customer.
(3) If the mold is sold for a sum greater than the amount of the lien, the excess shall be paid to any prior recorded lienholder and any remainder to the customer, if the customer's address is known to the molder at the time of the sale, or to the General Fund, if the customer's address is unknown.
(4) The molder may not sell the mold if it would be in violation of any right of the customer under federal law.
Cite this article: FindLaw.com - Oregon Revised Statutes Mortgages and Liens § 87.876 - last updated January 01, 2018 | https://codes.findlaw.com/or/title-9-mortgages-and-liens/or-rev-st-sect-87-876/
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