(a) (1) (For effective date, see note.) As used in this subsection, the term "public sale" means a sale:
(A) Held at a place reasonably available to persons who might desire to attend and submit bids;
(B) At which those attending shall be given the opportunity to bid on a competitive basis;
(C) At which the sale, if made, shall be made to the highest and best bidder; and
(D) Except as otherwise provided in Title 11 for advertising or dispensing with the advertising of public sales, of which notice is given by advertisement once a week for two weeks in the newspaper in which the sheriff's advertisements are published in the county where the sale is to be held, and which notice shall state the day and hour, between 9:00 A.M. and 5:00 P.M., and the place of sale and shall briefly identify the goods to be sold.
(2) (For effective date, see note.) Upon order of the court, the person holding the lien on the abandoned motor vehicle shall be authorized to sell such motor vehicle at public sale.
(b) After satisfaction of the lien, the person selling such motor vehicle shall, not later than 30 days after the date of such sale, provide the clerk of the court with a copy of the bill of sale as provided to the purchaser and turn the remaining proceeds of such sale, if any, over to the clerk of the court. Any person who fails to comply with the requirements of this subsection shall be guilty of a misdemeanor and, upon conviction thereof, shall be punished as for a misdemeanor.
Section: Previous 40-11-1 40-11-2 40-11-3 40-11-3.1 40-11-3.2 40-11-4 40-11-5 40-11-6 40-11-7 40-11-8 40-11-9 40-11-10 NextLast modified: October 14, 2016