If the right of the secured party to receive such or any sum is for any reason questioned by the levying creditor, the party may, within ten days after levy, or after demand is made for a statement of the amount due as above provided, commence an action in equity or contest such right upon filing a bond in a penalty double the amount of such security interest, or double the value of the property levied upon, conditioned either for the payment of any sum found due on said security interest to the person entitled thereto, or for the value of the property levied upon, as the party ordering the levy may elect, with sureties to be approved by the clerk.
[C97, § 3988; S13, § 3988; C24, 27, 31, 35, 39, § 11691; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 626.43]
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