38-13-206 - Release of aircraft by posting a bond.
38-13-206. Release of aircraft by posting a bond.
(1) The owner or other person entitled to possession of the aircraft may have the aircraftreleased from any lien claimed on it under this chapter by filing with the clerk of a court ofcompetent jurisdiction a cash or surety bond, payable to the person claiming the lien, andconditioned for the payment of any judgment that may be recovered on the lien, with costs,interest, and storage fees.
(2) (a) The repairman has 60 days after the day on which the repairman receives noticethat the owner or other person entitled to possession of the aircraft has filed the bond provided inSubsection (1) to file suit to foreclose the repairman's lien.
(b) If the repairman fails to timely file an action, the clerk of the court shall release thebond.
(3) (a) If an owner or other person entitled to possession of the aircraft files a bond asprovided in Subsection (1), the clerk of the court shall provide that person with evidence that thebond has been filed.
(b) The owner or other person entitled to possession of the aircraft shall file the evidenceof a bond provided under Subsection (3)(a) with the Federal Aviation Administration.
(c) Filing the evidence provided in Subsection (3)(a) with the Federal AviationAdministration releases the lien on the aircraft if the repairman fails to foreclose on the lienwithin 60 days of the day on which the repairman receives notice that the owner or other personentitled to possession of the aircraft filed the bond.
Enacted by Chapter 187, 2005 General Session