12-885. Seizure and sale of escheated
property; disposal of proceeds; exception
A. A writ shall be issued to the sheriff or a constable of the county where the
property is situated, commanding the sheriff or constable to seize the property vested
in the state.
B. Except for personal property transferred to the Arizona state library,
archives and public records under section 41-1353, the officer shall dispose of the
property at public auction in the manner provided by law for sale of property under
execution. The proceeds of the sale shall be paid to the department of revenue and
deposited, pursuant to sections 35-146 and 35-147, into a clearing account from which
payment of claims for the proceeds may be made. The proceeds shall remain in the
clearing account for twelve months and then shall be credited to the permanent state
school fund.
C. The director of the department of revenue shall keep accounts and records of
all such proceeds paid into the clearing account and of all such lands vested in the
state.
|