Sec. 10. (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.
‹ Prev All Indiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.