Sec. 2. (a) A lien provided for in section 1 of this chapter includes the value or agreed price, if any, of all materials furnished by the bailees for hire in connection with the work, whether added to the article or otherwise.
(b) If the account remains unpaid for one hundred twenty (120) days after completing the work, the bailees for hire may give written notice to the owner, specifying the amount due and informing the owner that:
(1) the payment of the amount within thirty (30) days will entitle the owner to redeem the property;
(2) if the property is not redeemed within the thirty (30) day period, the bailee for hire may give a second and similar notice; and
(3) if the owner does not redeem the property not later than fifteen (15) days after the second notice is given, the bailee for hire may sell the article at a bona fide public or private sale to satisfy the account.
(c) The proceeds of a sale under subsection (b), after paying the expenses of the sale, shall be applied in liquidation of the indebtedness secured by the lien and the balance, if any, shall be paid over to the owner.
(d) The notice under subsection (b) may:
(1) be served by mail directed to the owner's last known address; or
(2) be posted in two (2) public places in the town or city where the property is located, if the owner or the owner's address is not known. The notice must be written or printed.
[Pre-2002 Recodification Citation: 32-8-34-1 part.]
As added by P.L.2-2002, SEC.18.
