Title 44, Chapter 14, Section 45
( 44-14-45)
Purchasers at public sales of personal property subject to the lien
of a mortgage shall give bond and security in double the value of
the property to the officer making the sale and conditioned not to
remove the property from the state and for its forthcoming to answer
to the lien; provided, however, that prior to the sale the mortgagee
or his agent shall file with the officer an affidavit stating the
amount due on the mortgage and that he expects the loss of the
property unless the bond is taken. On failure to give the bond, the
property shall be resold at the risk of the purchaser. |