Indiana Statutes
§ 32-33-20-10 — Proceeds of special tool sale
(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.
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Legislative History
As added by P.L.73-2009, SEC.4.
Nearby Sections
15
§ 32-16-1-1
"Prior property law"§ 32-16-1-2
Purpose of recodification§ 32-16-1-3
Statutory construction of recodification§ 32-16-1-4
Effect of recodification§ 32-16-1-5
Recodification of prior property law§ 32-16-1-6
References to repealed statutes§ 32-16-1-7
References to citations§ 32-16-1-8
References to prior rules§ 32-16-1-9
References to prior property law§ 32-17-1-1
"Grantor"§ 32-17-1-2
Fee simple conveyance§ 32-17-1-3
Estates tail; abolition§ 32-17-1-4
Lineal and collateral warranties; abolition§ 32-17-10-1
Application of chapter