New York Consolidated Laws, Lien Law - LIE § 154. Sale procedure for mold lien property

1. Before a molder may sell the die, mold, form or pattern the molder shall notify the customer and the holder of a perfected security interest by registered mail, return receipt requested.  This notice shall include the following information:

2. 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 shall include a description of the die, mold, form or pattern.

3. If the sale is for a sum greater than the amount of the lien, the excess shall be paid to any other 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.

4. A sale shall not be made under this section if it would be a violation of any right of the customer under federal patent or copyright law.