When any estate is attached, or any debt or effects taken by process of foreign attachment, the defendant may apply in writing to the court in which such action may be pending, or any judge thereof, to dissolve the attachment lien upon the substitution of (a) a bond with surety or (b) a lien on any other property of the defendant which has an equal or greater net equity value than the amount secured by such attachment.

(1949 Rev., S. 8043; 1953, S. 3196d; 1961, P.A. 517, S. 44; 1971, P.A. 39, S. 1.)

History: 1961 act deleted obsolete provision for application to justice of the peace or municipal court when debt or damages do not exceed $300; 1971 act allowed dissolution of attachment lien upon substitution of lien on other property of equal or greater net equity value than amount secured by attachment.