Proceeds of sale; disposition
Sec. 3. (a) The proceeds of a sale that takes place under section 1
of this chapter, after payment of charges for construction or repair
and for giving notice by registered or certified mail, shall be:
(1) returned to the entrusting person or owner if the identity and
mailing address of the entrusting person or owner are known;
or
(2) deposited with the treasurer of the county in which the
construction or repair work was performed.
(b) If the entrusting person or owner does not:
(1) claim the article within the thirty (30) days before the date
of the sale;
(2) pay for the construction, alteration, or repair; and
(3) provide reimbursement for the expenses of notification;
the mechanic or tradesman may proceed with the sale according to
the terms of the notice.
As added by P.L.2-2002, SEC.18.
Last modified: May 24, 2006