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Senate Judiciary adopts amendment and passes bill to streamline equipment‑dealer liens
Summary
The committee passed SB263, which clarifies how equipment dealers may establish bonds and provide certified notice before selling personal property; the bill requires a bond equal to twice the fair‑market value and allows courts to adjudicate disputed valuations and award damages and attorney fees.
Senate Judiciary on Monday passed Senate Bill 263, a measure intended to simplify the process by which equipment dealers enforce liens on personal property when customers fail to pay for repairs or parts. Senator Hester, who presented the bill, said it clarifies notice and bonding steps so dealers can move stored equipment rather than waiting for a court to set values.
The bill requires that a lienholder establish a fair‑market value for the property and post a bond equal to twice that amount; it also replaces the prior 'registered' mail requirement with 'certified' mail to encourage a signed receipt. "Members, this is a a bill trying to, correct a…
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