Utah § 38-10-113 - Satisfaction of lien upon filing corporate surety bond or letter of credit -- Payment to lien claimant upon entry of judgment -- Filing -- Commencement time for action upon bond or undertaking.
Full text of Utah Utah Code § 38-10-113 — Satisfaction of lien upon filing corporate surety bond or letter of credit -- Payment to lien claimant upon entry of judgment -- Filing -- Commencement time for action upon bond or undertaking., with citation guidance and answers to common questions.
§ 38-10-113. Satisfaction of lien upon filing corporate surety bond or letter of credit -- Payment to lien claimant upon entry of judgment -- Filing -- Commencement time for action upon bond or undertaking.
| (1) | Any lien created under this chapter is satisfied and shall be cancelled upon the owner filing in recordable form, a corporate surety bond or letter of credit in an amount equal to 1-1/2 times the amount of the lien with the county recorder in any county where the notice of lien was filed. |
| (2) | The bond or letter of credit shall guarantee that upon entry of final judgment in favor of the lien claimant, the principal or its sureties shall pay the lien claimant the lesser of the judgment or the full amount of the bond or letter of credit. |
| (3) | The bond or undertaking may be filed any time prior to a final judgment in an action to foreclose the lien. |
| (4) | A certified copy of the bond or undertaking shall also be filed with the clerk of the district court in the county in which an action to foreclose the lien is filed or pending. |
| (5) | Upon the filing of the bond or letter of credit with the county recorder, the lien against the owner's interest shall be satisfied, and the security described in Subsection (1) shall be substituted. |
| (6) | A lien claimant whose lien has been satisfied by the substitution of the security described in Subsection (1) may bring an action upon the bond or undertaking. The action shall be commenced within the time prescribed in Subsection 38-10-106(1). |
Enacted by Chapter 170, 1987 General Session
Source: official Utah text · Last verified 2026-08-27
Frequently Asked Questions About Utah § 38-10-113
What does Utah Code § 38-10-113 cover?
Section 38-10-113 ("Satisfaction of lien upon filing corporate surety bond or letter of credit -- Payment to lien claimant upon entry of judgment -- Filing -- Commencement time for action upon bond or undertaking.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 38-10-113?
A common citation format is "Utah Code § 38-10-113" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 38-10-113 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Utah.