HI HB440

Establishes a three-month deadline for claimants to file an enforcement action upon a bond posted to discharge a mechanics' or materialmen's lien.

Requires courts to promptly refund cash or discharge the bond if no enforcement action is filed within three months of the bond's filing.

Applies to bonds filed with circuit courts or land court registrars as a means to discharge liens on property.

Takes effect upon approval and does not affect rights, duties, or proceedings that began before the effective date.