Sec. 10. (a) The proceeds of a sale of a special tool under section 8 of this chapter shall be paid as follows:
(1) The proceeds shall be paid first to the prior lienholder who has a perfected lien in an amount sufficient to satisfy the lienholder's interest.
(2) Any remainder after payment is made under subdivision (1) shall be paid to the end user who possesses a lien under this chapter in an amount sufficient to extinguish that interest.
(3) Any remainder after payment is made under subdivision (2) shall be paid to the customer.
(b) A sale may not be made under this chapter if it would violate a right a customer has under federal patent or copyright law.
As added by P.L.73-2009, SEC.4.
Structure Indiana Code
Article 33. Liens on Personal Property
Chapter 20. Special Tool Liens
32-33-20-4. "Special Tool Builder"
32-33-20-5. Transfer of Rights, Title, and Interest in a Special Tool to an End User
32-33-20-6. End User Lien on a Special Tool
32-33-20-7. Notice to Customer of End User Lien
32-33-20-8. Sale of Special Tool at Public Auction
32-33-20-9. Notice to Customer of Special Tool Sale
32-33-20-10. Proceeds of Special Tool Sale
32-33-20-11. Special Tool Builder Security Interest on a Special Tool
32-33-20-12. Enforcement of Special Tool Builder Lien
32-33-20-13. Special Tool Builder Right to Possession of a Special Tool
32-33-20-14. Notice by Special Tool Builder; Sale of a Special Tool