32-33-20-10. Proceeds of Special Tool Sale
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 […]
32-33-20-11. Special Tool Builder Security Interest on a Special Tool
Sec. 11. (a) A special tool builder has an unperfected purchase money security interest under IC 26-1-9.1 on a special tool that the special tool builder fabricates, repairs, or modifies. (b) The amount of the lien is the amount that a customer or end user owes the special tool builder for the fabrication, repair, or […]
32-33-20-12. Enforcement of Special Tool Builder Lien
Sec. 12. To enforce a lien that attaches under section 11 of this chapter, a special tool builder must give notice of the lien in writing to the customer and the end user. The notice must: (1) be delivered personally or by certified mail, return receipt requested, to the last known address of the customer […]
32-33-20-13. Special Tool Builder Right to Possession of a Special Tool
Sec. 13. (a) Subject to section 14 of this chapter, if a special tool builder has not been paid the amount claimed in the notice required under section 12 of this chapter within ninety (90) days after the date the notice required under section 12 of this chapter has been received by the customer and […]
32-33-20-14. Notice by Special Tool Builder; Sale of a Special Tool
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 […]
32-33-20-15. Proceeds of Special Tool Sale
Sec. 15. (a) The proceeds of a sale of a special tool under section 13 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 […]
32-33-20-2. “End User”
Sec. 2. As used in this chapter, “end user” means a person who uses a special tool as part of the person’s manufacturing process. As added by P.L.73-2009, SEC.4.
32-33-20-3. “Special Tool”
Sec. 3. As used in this chapter, “special tool” means tools, dies, jigs, gauges, gauging fixtures, special machinery, cutting tools, injection molds, or metal castings used in the design, development, manufacture, assembly or fabrication of parts. As added by P.L.73-2009, SEC.4.
32-33-20-4. “Special Tool Builder”
Sec. 4. As used in this chapter, “special tool builder” means a person who designs, develops, manufactures, or assembles special tools for sale. As added by P.L.73-2009, SEC.4.
32-33-20-5. Transfer of Rights, Title, and Interest in a Special Tool to an End User
Sec. 5. (a) This section does not apply if an end user retains title to and possession of a special tool. (b) Unless otherwise agreed in writing, if a customer does not claim possession of a special tool from an end user within three (3) years after the date the special tool is last used […]