No lien sale shall be undertaken pursuant to Section 503 or 504 unless the vessel has been available for inspection at a location easily accessible to the public for at least one hour before the sale and is at the place of sale at the time and date specified on the notice of sale. Sealed bids shall not be accepted. The lienholder shall conduct the sale in a commercially reasonable manner.

(Added by Stats. 1982, Ch. 941, Sec. 2.)

Terms Used In California Harbors and Navigation Code 506

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • vessel: includes any trailer used in connection with the vessel which is in the possession of the lienholder at the time the lien arises. See California Harbors and Navigation Code 501
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