C.R.S. Section 38-22-131
Substitution of bond allowed


(1)

Whenever a mechanic’s lien has been filed in accordance with this article, the owner, whether legal or beneficial, of any interest in the property subject to the lien may, at any time, file with the clerk of the district court of the county wherein the property is situated a corporate surety bond or any other undertaking which has been approved by a judge of said district court.

(2)

Such bond or undertaking plus costs allowed to date shall be in an amount equal to one and one-half times the amount of the lien plus costs allowed to date and shall be approved by a judge of the district court with which such bond or undertaking is filed.

(3)

The bond or undertaking shall be conditioned that, if the lien claimant shall be finally adjudged to be entitled to recover upon the claim upon which his lien is based, the principal or his sureties shall pay to such claimant the amount of his judgment, together with any interest, costs, and other sums which such claimant would be entitled to recover upon the foreclosure of the lien.

Source: Section 38-22-131 — Substitution of bond allowed, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-38.­pdf (accessed Oct. 20, 2023).

38‑22‑101
Liens in favor of whom - when filed - definition of person
38‑22‑102
Payments - effect
38‑22‑103
Attaching of lien - enforcement
38‑22‑104
Lien on mining property
38‑22‑105
Property subject to lien - notice
38‑22‑105.5
Notice of lien law
38‑22‑106
Priority of lien - attachments
38‑22‑107
Lien attaches to water rights and franchises
38‑22‑108
Rank of liens
38‑22‑109
Lien statement
38‑22‑110
Action commenced within six months
38‑22‑111
Joinder of parties - consolidation of actions
38‑22‑112
Allegations of complaint
38‑22‑113
Hearing - judgment - summons - defense
38‑22‑114
Disposition of proceeds - execution
38‑22‑115
Parties to action
38‑22‑116
Costs
38‑22‑117
Assignment of lien - failure to support lien
38‑22‑118
Satisfaction of lien - failure to release
38‑22‑119
Agreement to waive - effect
38‑22‑120
Rules of civil procedure apply
38‑22‑121
Liens of surveyors and engineers
38‑22‑122
Lien under two contracts - effect
38‑22‑123
Payment to avoid invalid
38‑22‑124
Other remedies not barred
38‑22‑125
Bona fide purchaser
38‑22‑126
Disburser - notice - duty of owner and disburser
38‑22‑127
Moneys for lien claims made trust funds - disbursements - penalty
38‑22‑128
Excessive amounts claimed
38‑22‑129
Principal contractor may provide bond prior to commencement of work
38‑22‑130
Payment of claims by surety
38‑22‑131
Substitution of bond allowed
38‑22‑132
Lien to be discharged
38‑22‑133
Action to be brought on bond or undertaking
Green check means up to date. Up to date

Current through Fall 2024

§ 38-22-131’s source at colorado​.gov