(a) Upon the possession of the aircraft by a lienor, he shall cause a notice of an aircraft lien, in duplicate, to be filed on a form provided by the Secretary of the State with the office of the secretary on which he shall also indicate the date and place of the sale of the aircraft, which date of sale shall be at least sixty days next succeeding the filing of the notice. The lienor shall, within seven days of the filing, send by certified mail a copy of such notice to the person indicated as the owner of the aircraft, and to anyone who has filed with the Secretary of the State claiming a legal or equitable interest in the aircraft. The fees for such notice and procedure shall be set by the Secretary of the State.

(b) The owner of the aircraft, or anyone having a legal or equitable interest therein, may apply to any judge of the Superior Court, within whose jurisdiction the aircraft is held or where the lienor resides, to dissolve the lien upon the substitution of a bond with sufficient surety.

(c) If no application that the lien be dissolved upon substitution of a sufficient bond, as provided herein, is made within sixty days next succeeding the filing of the notice with the Secretary of the State, then the lienor may sell the aircraft at public auction at his place of business or wherever he may designate, provided, at least seven days prior to the sale, he shall publish three times in a newspaper having general circulation in the municipality where the aircraft is located a notice containing substantially the same information as filed in the notice of an aircraft lien, as provided by section 49-92i, and shall notify, in writing, any holders of any prior or subsequent security interests who have filed notice of the interest with the Secretary of the State. The proceeds of the sale, after satisfaction of any prior security interests filed with the Secretary of the State, and satisfaction of the aircraft lien and satisfaction of any subsequent security interests filed with the Secretary of the State, shall be paid to the owner of record. If the amount due the owner is not claimed within one year from the date of the sale, it shall escheat to the state.

(P.A. 93-433, S. 22, 26; P.A. 04-240, S. 24; 04-257, S. 78.)

History: P.A. 93-433 effective July 1, 1993; P.A. 04-240 amended Subsec. (a) by replacing provision re filing of notice in quadruplicate with provision re filing of notice in duplicate and making technical changes; P.A. 04-257 made technical changes in Subsec. (a), effective June 14, 2004.