71-3-1202. Priority.
351 words·~2 min read·
/mt/title-71/chapter-3/part-12/71-3-1202·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
71-3-1202 . Priority.
(1)Subject to subsection (4), the lien created may not take precedence over perfected security interests under the Uniform Commercial Code--Secured Transactions or other recorded liens on the property involved unless, within 30 days from the time of receiving the property, the person desiring to assert a lien upon the property gives notice in writing to the secured party or other lienholder, stating the intention to assert a lien on the property, under the terms of this part, and stating the nature and approximate amount of the work performed or feed or other services furnished or intended to be performed or furnished.
(2)Service may be made either by personal service or by mailing by registered or certified mail a copy of the notice to the secured party or other lienholder at the last-known post-office address. Service must be considered complete upon the deposit of the notice in the post office.
(3)Within 20 days after the date of mailing or 10 days after personal service, the secured party or other lienholder or the secured party's or other lienholder's representative has the right to take possession of the property upon payment of the amount of the lien. A failure on the part of the secured party or other lienholder to take possession of the property constitutes a waiver of the priority of the security interest or other lien over the lien created by this part.
(4)With regard to a reproductive technology business, the lien created may not take precedence over perfected security interests under the Uniform Commercial Code--Secured Transactions or other recorded liens on the embryos or semen involved unless, within 30 days from the time of harvesting or collecting the embryos or semen, the person desiring to assert a lien upon the embryos or semen gives notice in writing to the secured party or other lienholder stating the intention to assert a lien on the embryos or semen under the terms of this part and stating the nature and approximate amount of the work performed or other services furnished or intended to be performed or furnished.