(1) When an agricultural producer receives full payment for agricultural produce, if the producer has filed a notice under ORS 87.710 (2) to extend a lien or under ORS 87.725 to foreclose a lien, the producer shall file with the Secretary of State a certificate declaring that full payment has been received from the purchaser and that the lien is discharged.
(2) Upon receiving the certificate, the Secretary of State shall enter the certificate in the index maintained by the secretary for filing financing statements pursuant to ORS chapter 79.
(3) If an agricultural producer that receives full payment for agricultural produce fails to file the certificate described in subsection (1) of this section on or before the 10th day after receiving a request for filing from a purchaser, the producer is liable to the purchaser in the sum of $100 damages and for all actual damages caused by the failure, to be recovered in an action at law. [1973 c.647 §9; 1999 c.612 §4; 2001 c.301 §15]
Section: Previous 87.700 87.705 87.710 87.715 87.720 87.725 87.730 87.735 87.736 87.740 87.750 87.755 87.760 87.762 87.765 NextLast modified: August 7, 2008