Sec. 15. (a) The proceeds of a sale of a special tool under section 13 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 special tool builder 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 or possession may not be obtained under section 13 of this chapter if the sale or possession would violate any right a customer or an end user has under federal patent, bankruptcy, 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