§ 38-22-132 — Lien to be discharged

Notwithstanding any other provision of
this article or section 38-35-110, upon court approval of a bond or undertaking as
provided in section 38-22-131, and upon the issuance and recording of a certificate
of release as specified in this section, the lien against the property, and any notice
of lis pendens or notice of the commencement of any action relating to such lien,
shall be immediately discharged and released in full; the real property described in
such bond or undertaking shall be forever released from the lien, from any notice of
lis pendens or notice of the commencement of any action relating to such lien, and
from any action brought to foreclose such lien; the bond or undertaking shall be
substituted; and no notice of lis pendens or notice of the commencement of any
action relating to such lien or any action for the enforcement or foreclosure thereof
shall thereafter be recorded against the property. The clerk of the district court
with which such bond or undertaking has been filed shall issue a certificate of
release which shall be recorded in the office of the clerk and recorder of the county
wherein the original mechanic's lien was filed, and the certificate of release shall
show that the property has been forever released from the lien, from any notice of
lis pendens or notice of the commencement of any action relating to such lien, and
from any action brought to foreclose such lien.

Legislative History

Source: L. 75: Entire section added, p. 1426, � 5, effective October 1. L. 2011: Entire section amended, (SB 11-264), ch. 279, p. 1250, � 2, effective July 1.