§ 31-42-4 - Auction of abandoned motor vehicles.
SECTION 31-42-4
§ 31-42-4 Auction of abandoned motorvehicles. – (a) If an abandoned motor vehicle has not been reclaimed as provided for in§ 31-42-3, the police department shall sell the abandoned motor vehicle ata public auction. The purchaser of the motor vehicle shall take title to themotor vehicle free and clear of all liens and claims of ownership, shallreceive a sales receipt and bill of sale from the police department, and shallbe entitled to register the purchased vehicle. The sales receipt at a saleshall be sufficient title only for purposes of transferring the vehicle to ademolisher for demolition, wrecking, or dismantling, and, in that case nofurther registration of the vehicle shall be necessary.
(b) From the proceeds of the sale of an abandoned motorvehicle, the police department shall reimburse itself for the expenses of theauction, the costs of towing, preserving, and storing the vehicle whichresulted from placing the abandoned motor vehicle in custody, and all noticesand publication costs incurred pursuant to § 31-42-3. Any remainder fromthe proceeds of a sale shall be held for the owner of the vehicle or entitledlienholder for ninety (90) days, and then shall be deposited in a specialabandoned motor vehicle fund which shall remain available for the payment ofauction, towing, preserving, storage, and all notice and publication costswhich result from placing other abandoned vehicles in custody, whenever theproceeds from a sale of the other abandoned motor vehicles are insufficient tomeet these expenses and costs.
(c) Whenever the chief finance officer of the city or townfinds that moneys in the abandoned motor vehicle fund are in excess of reserveslikely to be needed, he or she may transfer the excess to the general fund. Butin the event there are additional claims against the abandoned motor vehiclefund, if the abandoned motor vehicle fund is temporarily exhausted, theseclaims shall be met from the general fund to the limit of any transferspreviously made to it pursuant to this section.