§ 32-34-6-6 — Choice of fabricator to transfer rights, title, and interest to fabricator for destruction; procedure for transfer

Indiana § 32-34-6-6

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 34: LOST OR UNCLAIMED PERSONAL PROPERTY
• Ch. 6: Transfer of Property Interests in Molds

Text

(a) After the three (3) year period specified in
section 4 of this chapter has expired, a fabricator may choose to have
all rights, title, and interest in the die, mold, form, jig, or pattern
transferred to the fabricator for purposes of destruction. A fabricator
seeking a transfer under this subsection must send written notice by
registered mail, return receipt requested, to:
(1) the customer's address as set out in any written agreement
between the fabricator and the customer; and
(2) the customer's last known address;
indicating that the fabricator intends to terminate the customer's rights,
title, and interest by having the rights, title, and interest transferred to
the fabricator under this chapter.
(b) If a customer:
(1) does not take possession of the particular die, mold, form, jig,
or pattern within ninety (90) days after the date on which the
notice was sent under subsection (a); or
(2) does not make other contractual arrangements with the
fabricator for taking possession or for storage of the die, mold,
form, jig, or pattern;
all rights, title, and interest of the customer to the mold transfer by
operation of this chapter to the fabricator for the purpose of destruction.
The fabricator may then destroy the die, mold, or form.
[Pre-2002 Recodification Citations: 32-9-6-3;
32-9-6-4.]

Legislative History

As added by P.L.2-2002, SEC.19.