§ 108.550 — Foreclosure of lien; sale; disposition of proceeds

Nevada § 108.550

• Jurisdiction: Nevada
• Title 9: SECURITY INSTRUMENTS OF PUBLIC UTILITIES; MORTGAGES
• Ch. 108: Statutory

Text

1. The lien provided for in NRS 108.540 may be foreclosed in the following manner:
(a) A notice must be posted for a period of 10 days in three public and conspicuous places in the county where the animals are being fed, pastured or boarded, which notice must also be published in one issue of a newspaper of general circulation in the county.
(b) The notice must:
(1) Specify the nature and amount of the lien.
(2) Specify that it is the intention of the lienholder to foreclose the animal or animals by sale.
(3) Specify a description of the animal or animals.
(4) Specify the name and last known address of the owner or purported owner of the animal or animals.
(5) State that unless the amount of the lien is paid on or before a specified date, the animal or animals, or so many thereof as may be necessary, will be sold at public auction at the place and on the day and hour specified in the notice.
(6) Be signed and dated by the lienholder.
(c) The lienholder shall specify a day for the purposes of the demand in subparagraph (5) of paragraph (b). The day specified must not be less than 10 nor more than 15 days after the date of the publication of the notice.
(d) A true copy of the demand and notice must be mailed by registered or certified letter and at the time of publication to the last known address of the holder of every lien appearing of record in the county.
2. The sale provided for in this section may be conducted by the person furnishing the feed, pasture or board, or by any other person who may be designated by the lienholder. Only such number of animals will be sold as may be necessary to discharge the lien and pay the cost of the publication of notice, plus the sum of $5 to be allowed to the person making the sale. No sale may be made except when the animals to be sold are corralled and have been viewed by the bidders. Any expense incidental to rounding up or bringing the animal or animals to the place of sale is also a proper and an additional charge against the owner. The lienholder may be a bidder at the sale. From the proceeds of the sale, the lienholder shall satisfy the lien, including the additional charges mentioned in this subsection, delivering over the balance, if any, to the owner. If the owner is out of the state or cannot be found, the balance must be deposited with the county treasurer of the county in which the sale was conducted.
3. If the balance is not called for by the owner within 6 months after the date of sale, the balance must be paid into the county school district fund.
4. The highest bidder at the sale shall immediately pay the amount bid in cash and receive title to the animals sold, subject only to any prior lien appearing of record in the county, but before title vests in the successful bidder there must be recorded with the recorder of the county in which the sale was held a certificate executed by the person conducting the sale, to which must be attached the publisher’s proof of publication of the notice of sale to foreclose the lien. The certificate must specify:
(a) The name and address of the buyer.
(b) That the buyer was the highest bidder.
(c) The amount bid and paid.
(d) The kind, color, size, weight, brand, if any, and earmarks, if any, of the animal or animals sold.
5. No person requesting or consenting to the furnishing of feed, pasture or board is entitled to assert a lien prior to that provided for in this section.
6. This section is intended to supplement existing law and the remedy provided in this section is not exclusive. This section does not deprive the lienholder from resorting to any other legal remedy.

Legislative History

[1:227:1945; 1943 NCL § 3782] + [2:227:1945; 1943 NCL § 3782.01] + [3:227:1945; 1943 NCL § 3782.02] + [4:227:1945; 1943 NCL § 3782.03] + [5:227:1945; 1943 NCL § 3782.04] + [6:227:1945; 1943 NCL § 3782.05]—(NRS A 1959, 158 ; 1969, 95 ; 1971, 513 ; 1985, 240 ; 2001, 1752 )