All persons interested may be heard in relation to the amount and sufficiency of the bond or the substitute lien offered by the defendant. Such amount shall equal the value of the estate which the process directed to be attached, unless the action is founded in tort for the recovery of unliquidated damages, and it appears to the authority to whom the application is made that the amount so required to be attached is excessive, in which case he may take a bond or substitute lien for such sum as he deems reasonable.
(1949 Rev., S. 8046; 1971, P.A. 39, S. 4.)
History: 1971 act added reference to substitute liens.
Cited. 130 C. 514; 178 C. 250; 200 C. 406; 209 C. 15.
Cited. 5 CA 142.
“And” following “damages” is intended to refer to unliquidated damages and to provide for a reduction if they are excessive. 12 CS 102.