Indiana Code 32-34-10-8. Excess funds after sale of watercraft
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Sec. 8. If a boat is sold under this chapter for an amount of money that is greater than the charges owed to the marina operator plus all reasonable expenses of sale, the marina operator shall pay the excess in the following order:
(2) To the owner of the watercraft.
(1) For the satisfaction of obligations held by secured parties with respect to the watercraft, in the order in which security interests in the watercraft were perfected.
Terms Used In Indiana Code 32-34-10-8
- marina operator: means a person, a firm, a corporation, a limited liability company, a municipality, or another unit of government that is engaged in the business of operating a marina. See Indiana Code 32-34-10-1
[Pre-2002 Recodification Citation: 32-8-40-8.]
As added by P.L.2-2002, SEC.19.