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2019 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 087 - Statutory Liens
Section 87.537 - Duration of lien.
Universal Citation: OR Rev Stat § 87.537 (2019)
(1) Except as provided in subsection (2) of this section, if a suit to foreclose a lien created by ORS 87.503 is not commenced in an appropriate court within the 180-day period immediately following the date on which the lien is perfected under ORS 87.507, the lien shall cease to exist.
(2) Any period of time during which a lien created by ORS 87.503 may not be foreclosed under ORS 87.527 shall not be part of the period of time during which the lien exists under subsection (1) of this section. The existence of a lien created by ORS 87.503 shall not be extended in any case for longer than 180 days after a circumstance preventing foreclosure under ORS 87.527 ceases. A lien created by ORS 87.503 shall not continue in existence for a period of more than 10 years after the date on which the lien was perfected under ORS 87.507. [1995 c.749 §9; 1997 c.744 §9]
Note: See note under 87.501.
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