SB 374 revises certain time periods for filing materialmen's and mechanics' liens and provides for certain notices regarding waiver of lien or claim upon bond. This bill provides that certain notices shall be sent by registered or overnight mail or statutory overnight delivery. It also provides that certain liens are unenforceable if an action is not commenced within 365 days. An owner or an owner’s agent or attorney, or the contractor or contractor’s agent or attorney, may elect to shorten the time prescribed in which to commence a lien action to enforce any claim of lien by recording a notice in the superior court clerk’s.