Indiana § 32-33-20-15 - Proceeds of special tool sale
Full text of Indiana Indiana Code § 32-33-20-15 — Proceeds of special tool sale, with citation guidance and answers to common questions.
§ 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 under subdivision (1) shall be paid to the special tool builder who possesses a lien under this chapter in an amount sufficient to extinguish that interest.
(3) Any remainder after payment is made under subdivision (2) shall be paid to the customer.
(b) A sale may not be made or possession may not be obtained under section 13 of this chapter if the sale or possession would violate any right a customer or an end user has under federal patent, bankruptcy, or copyright law.
As added by P.L.73-2009, SEC.4.
IC 32-33-21Chapter 21. Repeal of Laws Concerning Liens on Personal Property
32-33-21-1Repeal of ambulance lien law
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 32-33-20-15
What does Indiana Code § 32-33-20-15 cover?
Section 32-33-20-15 ("Proceeds of special tool sale") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 32-33-20-15?
A common citation format is "Indiana Code § 32-33-20-15" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 32-33-20-15 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.