Discharge of lien upon judgment payable periodically.
When the judgment, however, is for a sum not due, that is, payable periodically, the defendant may discharge the registered lien by giving a bond for the payment of same to be approved by the probate judge and recorded, and he shall receive the same for registration. No execution shall issue where such judgment is payable periodically unless default is made in the payment of one or more of such periodical payments.
(Acts 1919, No. 245, p. 206; Code 1923, §7581; Code 1940, T. 26, §307.)