(a) A state agency, municipality, or peace officer may take or cause a derelict vessel to be taken into custody immediately. Upon taking custody of a derelict vessel, the state agency or municipality shall concurrently
(1) publish a notice of intended disposition once in a newspaper of general circulation;
(2) when possible, post a notice of intended disposition on the vessel; and
(3) serve a duplicate of the notice of intended disposition by certified mail, with a return receipt, on
(A) the registered owner of the vessel, if known, at the registered owner's last known address or the address on record with a state agency or the United States Coast Guard; and
(B) all lienholders who have filed a financing statement indexed in the name of the registered owner or who are shown on the records of a state agency or the United States Coast Guard.
(b) If the vessel is not repossessed within 20 days after the publication or mailing of the notice, whichever occurs later, the vessel may be disposed of by negotiated sale except that when two or more prospective purchasers indicate an interest in purchasing the vessel the vessel will be sold at public auction to the highest bidder in the same manner prescribed under AS 30.30.050 .
(c) If no prospective purchaser indicates a desire to purchase the vessel, the vessel may be disposed of as junk, donated to a governmental agency, or destroyed.
Section: Previous 30.30.090 30.30.100Last modified: November 15, 2016