Oregon Revised Statutes

Or. Rev. Stat. § 87.322 (2026)

Effect of prior security interest on foreclosure of nonpossessory lien for labor or material expended on chattel

✓ current as of May 2026
Find cases: SyfertCases citing this section ORSoregonlegislature.gov JustiaChapter on Justia CornellLII Search CasesGoogle Scholar

      87.322 Effect of prior security interest on foreclosure of nonpossessory lien for labor or material expended on chattel. ORS 87.272 to 87.316 do not apply to a lien on a chattel created by ORS 87.216 when that chattel is subject to a prior duly perfected security interest as provided in ORS 87.146 (1)(d). When a lien created by ORS 87.216 is junior and subordinate to a prior duly perfected security interest, that lien shall be foreclosed by suit under ORS chapter 88. In such a suit to foreclose, the holder of the prior security interest shall be made a party defendant to the foreclosure proceeding. The person holding the prior security interest may extinguish the lien created by ORS 87.216 by either a foreclosure proceeding under ORS chapter 88 or a nonjudicial foreclosure proceeding under ORS 79A.6010 to 79A.6280. [1975 c.648 §35a; 2001 c.445 §162]

 

      87.325 [Amended by 1973 c.472 §5; repealed by 1975 c.648 §72]