SB 530 Summary

• Establishes procedures for foreclosing upon domestic animal liens while in lawful possession, requiring notice with specific information posted in three public places and mailed by certified mail at least 10 days before sale.

• Creates the Livestock Owner's Lien Act of 2011, granting automatic liens to livestock owners on all livestock sold to secure payment of unpaid sales prices, with liens continuing uninterrupted through subsequent sales and in proceeds.

• Owner's liens are perfected automatically without filing documentation and take priority over all other liens except "permitted liens" (certain pre-existing mortgages and security interests meeting specified conditions).

• Prohibits livestock owners from being required to waive liens except upon full payment of sales price, unless first purchaser posts letter of credit or agrees to binding prepayment/escrow arrangement.

• Owner's liens expire one year after month-end following payment deadline, but lien enforcement deadline tolls during bankruptcy proceedings affecting the purchaser, with prevailing parties entitled to recover attorney fees and costs.