(2) A person who permits another to go on the land of the person and obtain timbers, has a lien upon the timbers, cut for the reasonable or agreed charge for that permission and stumpage.
(3) Subject to the limitation in subsection (4) of this section, if a person cuts or hires another to cut timbers on the land of the person and delivers or hires another to deliver the timbers to a purchaser, the person has a lien upon the timbers for the lesser of:
(a) The reasonable or agreed value of the timbers; or
(b) $125,000.
(4) A person described in subsection (3) of this section may not have outstanding at any one time more than one lien arising under subsection (3) of this section. [1975 c.648 §17; 1985 c.444 §1; 1999 c.940 §2]