§ 543.550 — Liens prohibited; exceptions; what may be included by mortgage, trust deed, or sale; determination of investment in case of sale of part

Oregon § 543.550

• Jurisdiction: Oregon
• Vol.: 15
• Title 45: Water Resources; Irrigation, Drainage, Flood Control, Reclamation
• Ch. 543: Hydroelectric Projects

Text

No lien for labor, services, materials, machinery or equipment shall exist or be acquired or enforced upon any property acquired, constructed or made a part of any project under license issued pursuant to ORS 543.010 to 543.610. No property shall be put into or made part of any such project unless owned by the licensee free and clear of all liens and claims whatsoever, except a lien created by the licensee upon the whole property embraced in the project by mortgage or deed of trust, to the end that the entire property embraced in the project be kept and maintained as an indivisible whole. The mortgage or deed of trust may include other property. Any voluntary sale or any sale upon a judgment of foreclosure, execution or otherwise, shall be of the whole property embraced in the project unless the Water Resources Commission, by an order in writing, consents to and approves of a sale of a part of the property. If less than the whole of any property embraced in a project is sold with the consent and approval of the commission, the commission shall determine at the time of the sale the actual net investment in the part sold, as well as the actual net investment in the part remaining unsold.

Legislative History

Amended by 1985 c.673 §161; 2003 c.576 §496