Previously a court had the discretion whether to grant such an application. The bill provides for the ability of a molder to obtain a lien on all dies, molds, forms or patterns used for customers. If the balance due the molder for work completed for a customer remains unpaid for 60 days after it is due, the molder is permitted to sell the mold at public auction in the county where it is being held. At least 30 days prior to the sale, the molder is required to send a notice to the owner of the mold stating the place and time of the sale, a description of the mold and an itemized statement for the amount due. The proceeds of the sale will be used to cover the amount due to the molder and reasonable costs of the sale.
Any excess amount is to be paid to any prior lien holder and any remainder to the owner.
The bill also provides than an existing perfected security interest takes priority over a lien of a molder, and requires any owner seeking to recover a mold from a molder to post a bond in the amount of the charges still outstanding. Previous law prohibited the recording of a charge or credit card account number on a check which a person or bank or other depository institution receives for deposit. The bill expands the prohibition to a check which is cashed.