§ 32-33-20-14 — Notice by special tool builder; sale of a special tool

Indiana § 32-33-20-14

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 33: LIENS ON PERSONAL PROPERTY
• Ch. 20: Special Tool Liens

Text

(a) Before a special tool builder may
enforce its security interest in a special tool for which the special tool
builder claims a security interest under this chapter and for which the
required notice has been sent under section 12 of this chapter, the
special tool builder must notify the customer, the end user, and all other
persons that have a perfected security interest in the special tool by
certified mail, return receipt requested, of all the following:
(1) The special tool builder's intention to sell the special tool sixty
(60) days after the receipt of the notice.
(2) A description of the special tool to be sold.
(3) The last known location of the special tool.
(4) The time and place of the sale.
(5) An itemized statement of the amount due.
(6) A statement that the special tool was accepted and the
acceptance was not subsequently rejected.
(b) If:
(1) there is no return of the receipt of the mailing; or
(2) the postal service returns the notice as being undeliverable;
the special tool builder shall publish notice of the special tool builder's
intention to sell the special tool in a newspaper of general circulation
in the place where the special tool was last known to be located, in the
place of the customer's last known address, and in the place of the end
user's last known address. The published notice must include a
description of the special tool and the name of the customer and the
end user.
(c) If a customer or an end user against whom the lien is asserted
disagrees that the special tool was accepted or that the acceptance was
not subsequently rejected, the customer or end user shall notify the
special tool builder in writing by certified mail, return receipt
requested, that the special tool was not accepted or that the acceptance
was subsequently rejected. A special tool builder who receives notice
under this subsection may not sell the special tool until the dispute is
resolved.

Legislative History

As added by P.L.73-2009, SEC.4.