§ 32-33-15-3 — Notification

(a) Before a lienholder may sell the
equipment, the lienholder must, by certified mail, return receipt
requested, notify the owner and any person whose security interest is
perfected by filing concerning the following:
(1) The lienholder's intention to sell the equipment thirty (30)
days after the owner's receipt of the notice.
(2) A description of the equipment to be sold.
(3) The time and place of the sale.
(4) An itemized statement describing the value of labor and
materials provided and for which the lienholder has not been paid.
(b) If upon receipt of the notice the owner informs the lienholder in
writing of the owner's objections regarding the quality of the
workmanship or an alleged overcharge, the lienholder must foreclose
by judicial proceeding.
(c) If there is no return of the receipt or if the postal service returns
the notice as being nondeliverable, the lienholder shall publish notice
of the lienholder's intention to sell the equipment in a newspaper of
general circulation in the place where the equipment is being held for
sale by the lienholder. The notice must include a description of the
equipment and name of its owner.
[Pre-2002 Recodification Citation: 32-8-36-3.]

Legislative History

As added by P.L.2-2002, SEC.18.