United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 10, § 3329: Insufficient security, 1975

If a lien foreclosure case finds no cash, bond, or other deposit securing the lien claims, the court may enter foreclosure judgment against enough farm or processed product held by the defendant processor, and may also…

lien foreclosuresecurity for claims

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01

Purpose and legislative effect

“If a lien foreclosure case finds no cash, bond, or other deposit securing the lien claims, the court may enter foreclosure judgment against enough farm or processed product held by the defendant processor, and may also declare any court-deposited bond forfeited.”

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    Enacted 1975 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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Insufficient security

If a lien foreclosure case finds no cash, bond, or other deposit securing the lien claims, the court may enter foreclosure judgment against enough farm or processed product held by the defendant processor, and may also declare any court-deposited bond…

Section 3329

04

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Source record from legislature.maine.gov · Enacted 1975 · Source version 1 Oct 2025

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Provision
§ 3329Insufficient securityProvision

If a lien foreclosure case finds no cash, bond, or other deposit securing the lien claims, the court may enter foreclosure judgment against enough farm or processed product held by the defendant processor, and may also declare any court-deposited bond forfeited.

If in a court proceeding to foreclose such lien it is found and determined by the court that there is no cash, bond or other deposit as security for the payment of any of the lien claims as set out in the complaint, the judgment of foreclosure shall be against a sufficient quantity in value of such farm product or processed product in the possession or under the control of the defendant processor, as may be necessary to satisfy such claim or render judgment and declare forfeited any bond which is deposited in the court by such processor to secure the lawful claims of the plaintiff as determined by the court. [PL 1975, c. 725 (NEW).]
Section 3329Verify source

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  • 1 Oct 2025 · currentEnglish

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