[§261-72]  Disposition of proceeds of sale. 
The department of transportation shall deposit into the airport revenue fund,
that portion of the proceeds of the sale of an aircraft as shall represent the
storage and other airport fees and charges due the department, the expenses of
the auction, and any other expense incurred by the department in taking into
custody and disposing of an aircraft.  The balance, if any, shall be deposited
into the general fund of the State.  The owner may recover any such balance of
the proceeds from the State only if the owner files a claim therefor with the
department of budget and finance within five years after the execution of the
bill of sale.  A lien holder shall receive priority of payment from the balance
of the proceeds to the extent of the lien holder's lien on the aircraft.  If
the proceeds of the sale are insufficient to cover the storage and other
airport fees and charges, the expenses of the auction and other expenses of the
department in taking into custody and disposing of the aircraft, the department
of transportation may, within five years, bring an action for the deficiency in
a court of appropriate jurisdiction against the person who was the owner of the
aircraft at the time custody was taken by the department. [L 1981, c 25, pt of
§1; gen ch 1985]