Page:United States Statutes at Large Volume 84 Part 2.djvu/66

 1396

Sale p r o c e e d s, disposition.

Unclaimed property, public sale.

Notice.

Motor v e h i c l e.

Sale p r o c e e d s, disposition.

PUBLIC LAW 91.537-DEC. 8, 1970

[84 STAT.

I n the case of the sale of a motor vehicle, a notice shall be given to any person whose security interest, lien, or other claim upon that niotor vehicle is recorded with the motor vehicle registry of the State (including the District of Columbia) of registration of that motor vehicle. That notice shall be given at least 15 days prior to the date of sale. (c) The proceeds of a sale of property made under subsection (b) shall be applied as follows; (1) jfirst, to cover the expenses of the storage and sale of the property, and (2) second, to discharge any security interest, lien, or other claim upon the property m the order of priority provided for by law. Any amount remaining after the application provided for by paragraphs (1) and (2) shall be paid to the party entitled to the remamder if that party is known and can be located. If that party is not known or cannot be located within one year after the date of the sale, the establishment shall p ^, within a reasonable time, the remainder to the government of the District of Columbia. SEC. 3. (a) A hotel, motel, or similar establishment in the District of Columbia which provides lodging to transient guests may sell at public auction any personal property that has been deposited for safekeeping, checked, or left unclaimed at that establishment for more than 90 days. If the owner of that property is known, the establishment shall, at least 15 days before that sale is held, send, by registered or certified mail, a notice to the owner at his last known address stating— (1) that the purpose of the sale is to dispose of unclaimed property; (2) the amount of storage and other charges (including interest on those charges) against that property; (3) the day^ time, and place of sale; and (4) a description of the property including, in the case of the sale of a motor vehicle, the make, type, year, model number, serial number, engine number, and the year and license registration number of that motor vehicle. I n the case of the sale of a motor vehicle, a notice shall be given to any person whose security interest, lien, or other claim upon that motor vehicle is recorded with the motor vehicle registry of the State (including the District of Columbia) of registration of that motor vehicle. That notice shall be given at least 15 days prior to the date of sale. (b) The proceeds of a sale of property made under subsection (a) shall be applied as follows: (1) first, to cover the expenses of the storage and sale of the property (including interest on those charges), and (2) second, to discharge any security interest, lien, or other claim upon the property in the order of priority provided for by law. Any amount remaining after the application provided for by paragraphs (1) and (2) shall be paid to the party entitled to the remainder if that party is known and can be located. If that party is not known or cannot be located within one year after the date of the sale, the establishment shall pay, within a reasonable time, the remainder to the government of the District of Columbia.

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