MARVIN MANDEL, Governor

667

17-118. INCOME FROM PROPERTY DELIVERED TO ADMINISTRATOR.

WHEN PROPERTY IS PAID OR DELIVERED TO THE
ADMINISTRATOR UNDER THIS TITLE, THE OWNER IS NOT ENTITLED
TO RECEIVE INCOME OR OTHER INCREMENTS WHICH SUBSEQUENTLY
ACCRUE.

REVISOR'S NOTE: This section presently appears as
Art. 95C, §14.

The only changes are technical changes in
style.

17-119. EFFECT OF EXPIRATION OF PERIOD OF LIMITATION.

THE EXPIRATION OF ANY PERIOD OF TIME SPECIFIED BY
STATUTE OR COURT ORDER, DURING WHICH AN ACTION OR
PROCEEDING MAY BE COMMENCED OR ENFORCED TO OBTAIN PAYMENT
OF A CLAIM FOR MONEY OR RECOVERY OF PROPERTY, MAY NOT:

(1)    PREVENT THE MONEY OR PROPERTY FROM BEING
PRESUMED ABANDONED PROPERTY; OR

(2)   AFFECT ANY DUTY TO FILE A REPORT REQUIRED BY
THIS TITLE OR TO PAY OR DELIVER ABANDONED PROPERTY TO THE
ADMINISTRATOR.

REVISOR'S NOTE: This section presently appears as
Art. 95C, §14A.

The only changes are technical changes in
style.

17-120. SALE OF ABANDONED PROPERTY DELIVERED TO
ADMINISTRATOR.

(A) SALE TO BE BY BID.

ALL ABANDONED PROPERTY, OTHER THAN MONEY DELIVERED
TO THE ADMINISTRATOR UNDER THIS TITLE, MAY BE SOLD BY
HIM. THE SALE SHALL BE TO THE HIGHEST BIDDER AT PUBLIC
SALE IN WHATEVER PLACE IN THE STATE AFFORDS, IN HIS
JUDGMENT, THE MOST FAVORABLE MARKET FOR THE PROPERTY
INVOLVED. THE ADMINISTRATOR MAY DECLINE THE HIGHEST BID
AND RE-OFFER THE PROPERTY FOR SALE IF HE CONSIDERS THE
PRICE BID INSUFFICIENT. HE NEED NOT OFFER ANY PROPERTY
FOR SALE IF, IN HIS OPINION, THE PROBABLE COST OF SALE
EXCEEDS THE VALUE OF THE PROPERTY.

(B) NOTICE TO PRECEDE SALE.

ANY SALE HELD UNDER THIS SECTION SHALL BE PRECEDED
BY A SINGLE PUBLICATION OF NOTICE AT LEAST THREE WEEKS IN
ADVANCE OF THE SALE IN A NEWSPAPER OF GENERAL CIRCULATION