During the pendency of an action for the recovery of a debt secured by any lien mentioned in ORS 88.010, a suit cannot be maintained for the foreclosure of the lien, nor thereafter, unless judgment is given in such action that the plaintiff recover the debt or some part thereof, and an execution thereon against the property of the defendant is returned unsatisfied in whole or in part.
ORS 88.040
Applied in 1 court decision — leading case Merrill Lynch Commercial Finance Corp. v. Hemstreet (2014)
Most recently applied in Merrill Lynch Commercial Finance Corp. v. Hemstreet (February 2014)
Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.