§200-43  Public auction.  If the vesselis not repossessed within twenty days after the mailing of the notice, thevessel shall be disposed of by public auction, through oral tenders, or bysealed bids, after public notice has been given at least once; provided thatthe public auction shall not be held less than five days after the notice isgiven.  Where no bid is received, the vessel may be sold by negotiation,disposed of as junk, or donated to any governmental agency. [L 1991, c 272, ptof §2; am L 1998, c 2, §54]