TITLE 55

PROPERTY IN GENERAL

CHAPTER 14

UNCLAIMED PROPERTY

55-1402.  Sale of unclaimed property. If no person calls for the property within four (4) months from the receipt thereof and pays freight and charges thereon, the carrier, commission merchant, innkeeper or warehouseman may sell such property, or so much thereof as will pay freight and charges, at auction to the highest bidder, first having given twenty (20) days’ notice of the time and place of sale, to the owner, consignee or consignor, when known, and by advertisement in a daily paper ten (10) days (or if in a weekly paper, four (4) weeks), published where such sale is to take place; and if any surplus is left, after paying freight, storage, cost of advertising and other reasonable charges, the same must be paid over to the owner of such property at any time thereafter, upon demand being made therefor within sixty (60) days after the sale.

History:

[(55-1402) R.S., sec. 1161; compiled and reen. R.C. & C.L., sec. 1547; C.S., sec. 2583; I.C.A., sec. 54-1402.]