(a) All abandoned property delivered to the treasurer under this part other than money or property of a type customarily sold in a recognized market, or of a type which is the subject of widely distributed price quotations, may be sold by the treasurer, in accordance with procedures approved by the attorney general and reporter, to the highest bidder at public sale at whatever place affords, in the judgment of the attorney general and reporter, the most favorable price for the property involved, or may be disposed of by the treasurer pursuant to § 12-2-112 if real property, or the State Surplus Personal Property Act of 1976, compiled in title 12, chapter 2, part 4. United States government savings bonds and United States war bonds shall be presented to the United States for payment.
(b) (1) Property of a type customarily sold in a recognized market, or a type which is the subject of widely distributed price quotations, shall, within twelve (12) months following the date the property was advertised, be sold by the treasurer in accordance with the customs prevailing for the sale of such property at the price considered most advantageous by the treasurer.
(2) Notwithstanding the provisions of subdivision (b)(1) relative to the timing of the sale of property, the treasurer is authorized to immediately sell such property if such properties are marketable securities and:
(A) The records of the holder do not reflect the identity of the person entitled to the property; or
(B) The treasurer determines such property to have a de minimis value. For purposes of this subdivision (b)(2)(B), property shall be deemed to have a de minimis value if the market value of such property held of any one issue is less than five hundred dollars ($500).
(c) Any sale of abandoned property, other than property sold under subsection (b), held by the treasurer under this section shall be preceded by a single publication of notice thereof at least three (3) weeks in advance of the sale, in a newspaper having general circulation in the county where the property is sold.
(d) The purchaser at any sale conducted by the treasurer pursuant to this part shall receive title to the property purchased free from all claims of the owner or prior holder thereof, and of all persons claiming under or through them. The treasurer or the treasurer's duly designated agent shall execute all documents necessary to complete the transfer of title.
(a) All abandoned property delivered to the treasurer under this part other than money or property of a type customarily sold in a recognized market, or of a type which is the subject of widely distributed price quotations, may be sold by the treasurer, in accordance with procedures approved by the attorney general and reporter, to the highest bidder at public sale at whatever place affords, in the judgment of the attorney general and reporter, the most favorable price for the property involved, or may be disposed of by the treasurer pursuant to § 12-2-112 if real property, or the State Surplus Personal Property Act of 1976, compiled in title 12, chapter 2, part 4. United States government savings bonds and United States war bonds shall be presented to the United States for payment.
(b) (1) Property of a type customarily sold in a recognized market, or a type which is the subject of widely distributed price quotations, shall, within twelve (12) months following the date the property was advertised, be sold by the treasurer in accordance with the customs prevailing for the sale of such property at the price considered most advantageous by the treasurer.
(2) Notwithstanding the provisions of subdivision (b)(1) relative to the timing of the sale of property, the treasurer is authorized to immediately sell such property if such properties are marketable securities and:
(A) The records of the holder do not reflect the identity of the person entitled to the property; or
(B) The treasurer determines such property to have a de minimis value. For purposes of this subdivision (b)(2)(B), property shall be deemed to have a de minimis value if the market value of such property held of any one issue is less than five hundred dollars ($500).
(c) Any sale of abandoned property, other than property sold under subsection (b), held by the treasurer under this section shall be preceded by a single publication of notice thereof at least three (3) weeks in advance of the sale, in a newspaper having general circulation in the county where the property is sold.
(d) The purchaser at any sale conducted by the treasurer pursuant to this part shall receive title to the property purchased free from all claims of the owner or prior holder thereof, and of all persons claiming under or through them. The treasurer or the treasurer's duly designated agent shall execute all documents necessary to complete the transfer of title.
(a) All abandoned property delivered to the treasurer under this part other than money or property of a type customarily sold in a recognized market, or of a type which is the subject of widely distributed price quotations, may be sold by the treasurer, in accordance with procedures approved by the attorney general and reporter, to the highest bidder at public sale at whatever place affords, in the judgment of the attorney general and reporter, the most favorable price for the property involved, or may be disposed of by the treasurer pursuant to § 12-2-112 if real property, or the State Surplus Personal Property Act of 1976, compiled in title 12, chapter 2, part 4. United States government savings bonds and United States war bonds shall be presented to the United States for payment.
(b) (1) Property of a type customarily sold in a recognized market, or a type which is the subject of widely distributed price quotations, shall, within twelve (12) months following the date the property was advertised, be sold by the treasurer in accordance with the customs prevailing for the sale of such property at the price considered most advantageous by the treasurer.
(2) Notwithstanding the provisions of subdivision (b)(1) relative to the timing of the sale of property, the treasurer is authorized to immediately sell such property if such properties are marketable securities and:
(A) The records of the holder do not reflect the identity of the person entitled to the property; or
(B) The treasurer determines such property to have a de minimis value. For purposes of this subdivision (b)(2)(B), property shall be deemed to have a de minimis value if the market value of such property held of any one issue is less than five hundred dollars ($500).
(c) Any sale of abandoned property, other than property sold under subsection (b), held by the treasurer under this section shall be preceded by a single publication of notice thereof at least three (3) weeks in advance of the sale, in a newspaper having general circulation in the county where the property is sold.
(d) The purchaser at any sale conducted by the treasurer pursuant to this part shall receive title to the property purchased free from all claims of the owner or prior holder thereof, and of all persons claiming under or through them. The treasurer or the treasurer's duly designated agent shall execute all documents necessary to complete the transfer of title.
