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Molders, shall have a lien, dependent on possession, on all dies, molds, forms or patterns in their hands belonging to a customer, for the balance due them from such customer for any manufacturing or fabrication work, and in the value of all material related to such work. Such liens shall attach upon the commencement of work by the molder and shall be subject to any prior perfected security interest in such property as of the commencement date. The molder may retain possession of the dye, mold, form or pattern until the charges are paid, or until repossessed by a creditor with a prior perfected security interest.
Before enforcing the lien, notice in writing shall be given to the customer, whether delivered personally or sent by registered mail to the last known address of the customer. This notice shall state that a lien is claimed for the damages set forth in or attached to such writing for manufacturing or fabrication work contracted or performed for the customer. This notice shall also include a demand for payment.
If the molder has not been paid the amount due within sixty (60) days after the notice has been received by the customer as provided in subsection (b), the molder may sell the die, mold, form or pattern in a commercially reasonable manner pursuant to title 47, chapter 9, part 5.