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Sec. 14. (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.
(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.
Cite this article: FindLaw.com - Indiana Code Title 32. Property § 32-33-20-14 - last updated June 08, 2021 | https://codes.findlaw.com/in/title-32-property/in-code-sect-32-33-20-14.html
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