§ 39-69-50 — Sale of dies, molds, forms, or patterns; written notice; publication; sale in excess of lien.

(A) Before a molder may sell a die, mold, form, or pattern, the molder shall notify the customer by registered mail, return receipt requested. The notice must include the following information: (1) the molder's intention to sell the die, mold, form, or pattern thirty days after the customer's receipt of the notice; (2) a description of the die, mold, form, or pattern to be sold; (3) the time and place of the sale; (4) an itemized statement for the amount due. (B) If there is not a return of the receipt of the mailing or if the postal service returns the notice as being nondeliverable, the molder shall publish notice of the molder's intention to sell the die, mold, form, or pattern in a newspaper of general circulation in the customer's last known place of business. The notice must include a description of the die, mold, form, or pattern. (C)(1) If the sale is for a sum greater than the amount of the lien, the excess must be paid to a prior lienholder known to the molder at the time of the sale and any remainder to the customer, if the customer's address is known, or the State Treasurer for deposit in the general fund if the customer's address is unknown to the molder at the time of the sale. (2) A sale must not be made under this section if it would be in violation of any right of a customer under federal patent or copyright law.

Legislative History

HISTORY: 1997 Act No. 7, SECTION 1, eff March 31, 1997.