Marvin Mandel, Governor                       1319

for by Section 2-320, but in the event the Abandoned Vehicles Fund
is temporarily exhausted claims shall be met from the Transporta-
tion Trust Fund to the limit of any transfers previously made
thereto pursuant to this section.

(B) THE FEES COLLECTED HEREIN FOR THE PURPOSE
OF ADMINISTERING THE PROVISIONS OF SECTION 5-205
AND THE SUBSECTION (D) OF SECTION 11-1002.2 OF THIS
ARTICLE SHALL BE DEPOSITED IN THE STATE TREASURY
AND BE ACCOUNTED FOR IN A SPECIAL ACCOUNT ON THE
RECORDS OF THE COMPTROLLER TO BE KNOWN AS THE
ABANDONED VEHICLES FUND. ALL SUMS RECEIVED BY
THE TREASURER PURSUANT TO THE PROVISIONS OF
THIS SECTION SHALL BECOME PART OF THE ACCOUNT,
AND SHALL BE HELD BY THE TREASURER TO CARRY
OUT THE PURPOSE OF SECTION 5-205 AND SUBSECTION
(D) OF SECTION 11-1002.2 OF THIS ARTICLE. WHENEVER
THE ADMINISTRATION FINDS THAT MONIES IN THE
ABANDONED VEHICLES FUND ACCOUNT ARE IN EXCESS
OF RESERVES LIKELY TO BE NEEDED FOR THE PURPOSE
THEREOF, THEY MAY REQUEST THE COMPTROLLER TO
TRANSFER THE EXCESS TO THE TRANSPORTATION TRUST
FUND AS PROVIDED FOR BY SECTION 2-320, BUT IN THE
EVENT THE ABANDONED VEHICLES FUND ACCOUNT IS
TEMPORARILY EXHAUSTED CLAIMS SHALL BE MADE
FROM THE TRANSPORTATION TRUST FUND TO THE LIMIT
OF ANY TRANSFERS PREVIOUSLY MADE THERETO PUR-
SUANT TO THIS SECTION.

5-203.

(b) Notice of intent to dispose of vehicle.—If a wrecker acquires
possession of a vehicle, or body or chassis thereof, for which there
is no certificate of title, or certificate of authority and the vehicle,
or body or chasis thereof, has been in the possession of the wrecker
for a period of more than thirty (30) days, the wrecker shall send
a notice of intent to dispose of the vehicle, or body or chassis thereof,
at least ten (10) days prior thereto by registered mail to the owner
and any lienholder as shown on the records of the [Department of
Motor Vehicles] Administration or any other person entitled to
possession of the vehicle, or body or chassis thereof, if his address
is known or can be reasonably obtained.

The provisions of this section which relate to the period of posses-
sion of a vehicle and the notification procedure shall not apply to
abandoned vehicles which are over eight (8) years old and are
totally inoperable.

(d) The [Department] Administration shall prescribe forms and
have the authority to promulgate rules and regulations pertaining
to the manner in which a wrecker or scrap processor notifies the
[Department] Administration of receipt of a vehicle or body or
chassis thereof to be scrapped, dismantled, or destroyed and the
manner in which an assessment is placed upon a wrecker if a
vehicle or body or chassis thereof has a designated model year
in excess of [seven] ten years, as determined by a national pub-
lication of used car values adopted for use by the [Department]
Administration is not scrapped, dismantled, or destroyed within
one year from the date a wrecker acquires possession of the vehicle