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(a) If the owner of impounded stock or his agent, after being notified of the impoundment, shall neglect to pay the fees and damages, the taker-up of the stock may sell them at public auction for cash, after first giving five (5) days’ notice of the time, place, and terms of the sale, by:
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(1) One (1) posted handbill on the courthouse door of the county; and
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(2) A copy of the notice delivered to the owner of the stock, if known.
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(b) The taker-up shall:
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(1) Apply the proceeds, after deducting expenses of sale, to the satisfaction of his fees and damages; and
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(2) Pay the balance to the owner of the stock.
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