Current through P.L. 171-2024
Section 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.As added by P.L. 73-2009, SEC.4.