10 §1386. Cessation of enforcement actions
Title 10: COMMERCE AND TRADE
Part 3: REGULATION OF TRADE
Chapter 212-A: MAINE MARINA AND BOATYARD STORAGE ACT HEADING: PL 1993, C. 263, §1 (NEW)
§1386. Cessation of enforcement actions
A facility owner shall cease enforcement actions immediately if: [1993, c. 263, §1 (NEW).]
1. Payment by owner. The property owner pays the facility owner the full amount necessary to satisfy the lien. At any time before the conclusion of a sale conducted under this chapter, the property owner may redeem the property by paying the full amount necessary to satisfy the lien; or
[ 1993, c. 263, §1 (NEW) .]
2. Payment by other lienholders. A person other than the facility owner who has a lien on the property pays the facility owner the full amount necessary to satisfy the lien held by the facility owner. Upon payment by a lienholder of record, the facility owner shall hold the property for the benefit of and at the direction of that lienholder and may not deliver possession of the property to the property owner. Unless the facility owner and the lienholder enter into a new storage agreement, the lienholder shall arrange removal of the property from the facility.
[ 1993, c. 263, §1 (NEW) .]
SECTION HISTORY
1993, c. 263, §1 (NEW).