1. (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. (1) returned to the entrusting person or owner if the identity and mailing address of the entrusting person or owner are known; or
   2. (2) deposited with the treasurer of the county in which the construction or repair work was performed.

2. (b) If the entrusting person or owner does not:

   1. (1) claim the article within the thirty (30) days before the date of the sale;
   2. (2) pay for the construction, alteration, or repair; and

   3. (3) provide reimbursement for the expenses of notification;

      the mechanic or tradesman may proceed with the sale according to the terms of the notice.

      [Pre-2002 Recodification Citation: 32-8-30-3.]

As added by P.L.2-2002, SEC.18.