2017 Indiana Code
TITLE 32. Property
ARTICLE 34. LOST OR UNCLAIMED PERSONAL PROPERTY
CHAPTER 6. Transfer of Property Interests in Molds
32-34-6-6. Choice of fabricator to transfer rights, title, and interest to fabricator for destruction; procedure for transfer
Sec. 6. (a) After the three (3) year period specified in section 4 of this chapter has expired, a fabricator may choose to have all rights, title, and interest in the die, mold, form, jig, or pattern transferred to the fabricator for purposes of destruction. A fabricator seeking a transfer under this subsection must send written notice by registered mail, return receipt requested, to:
(1) the customer's address as set out in any written agreement between the fabricator and the customer; and
(2) the customer's last known address;
indicating that the fabricator intends to terminate the customer's rights, title, and interest by having the rights, title, and interest transferred to the fabricator under this chapter.
(b) If a customer:
(1) does not take possession of the particular die, mold, form, jig, or pattern within ninety (90) days after the date on which the notice was sent under subsection (a); or
(2) does not make other contractual arrangements with the fabricator for taking possession or for storage of the die, mold, form, jig, or pattern;
all rights, title, and interest of the customer to the mold transfer by operation of this chapter to the fabricator for the purpose of destruction. The fabricator may then destroy the die, mold, or form.
[Pre-2002 Recodification Citations: 32-9-6-3; 32-9-6-4.]
As added by P.L.2-2002, SEC.19.
