§507-5 - Foreclosure by bailee when not otherwise provided.
Bailee
§507-5 Foreclosure by bailee when not otherwise provided. Whenever any lien has attached to any personal property in the possession of a bailee and is unsatisfied for the period of at least sixty days, and no other procedure is provided by law for the foreclosure of the lien, the bailee shall give public notice by publication for at least four issues of some newspaper published and circulating in the county where the bailee resides, which publication shall not be oftener than once per week. The notice shall particularly describe the personal property to be sold, the date and place of sale, the bailor's name, if known, and the nature and amount of lien to be satisfied. At the time and place named in the publication the property may be sold and the purchaser shall thereupon succeed to the bailor's title thereto. Out of the proceeds of sale the bailee may retain the amount of the lien, the cost of advertisement and sale, and other expenses incident to the sale. Any balance remaining which is not claimed by the owner of the property sold or the owner's legal representative within thirty days from the date of sale, shall be deposited by the bailee with the director of finance of the State to the credit of the owner and payable at any time to the owner or the owner's legal representatives; provided that the bailee may foreclose the lien in accordance with any written contract with the owner or by a civil action, and the proceedings shall be similar to proceedings to foreclose a mortgage of real property. [L 1919, c 195, §§1, 2; RL 1925, §2912; RL 1935, §4356; RL 1945, §8760; RL 1955, §193-8; am L Sp 1959 2d, c 1, §14; am L 1963, c 114, §1; HRS §507-5; am L 1972, c 106, §1(b); gen ch 1985]
Case Notes
No common law lien for private storage. 25 H. 98, 103.