44-12-211.1. Excess funds from sale of abandoned motor vehicle; claim for funds; definitions.

Within 15 days of the sale of a motor vehicle pursuant to Article 1A of Chapter 11 of Title 40, “The Abandoned Motor Vehicle Act,” and the satisfaction of the amounts owed for liens on such motor vehicle, any towing and storage firm, repair facility, or salvage dealer selling such motor vehicle shall provide to the commissioner any excess funds minus the allowable costs incurred for the public sale of such motor vehicle as set forth in subsection (b) of Code Section 40-11-19.2. The funds turned over to the department shall be accompanied by copies of the court order issued pursuant to Code Section 40-11-19.1, the bill of sale, and the receipt for the costs associated with the sale held pursuant to Code Section 40-11-19.2 on a form prescribed by the department for such purpose.#

1. (1)

   Any person claiming a property interest in the motor vehicle sold pursuant to Article 1A of Chapter 11 of Title 40, “The Abandoned Motor Vehicle Act,” and the excess funds from such sale may make such claim to the department upon a form provided for such purpose through rule or regulation within six months of the sale.#

2. (2)

   If such excess funds remain unclaimed for more than six months, any person authorized to make a claim under paragraph (1) of this subsection, or the towing and storage firm, repair facility, or salvage dealer selling such motor vehicle, may make a claim to the department for such excess funds. If more than one claim is made during this six-month period, the party first making a claim determined by the department as authorized shall be entitled to the excess funds. No claim shall be authorized after one year from the date excess funds are provided to the commissioner.#

For purposes of this Code section, the terms “repair facility,” “salvage dealer,” and “towing and storage firm” shall have the same meanings as provided for in Code Section 40-11-13.#