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The proceeds of the sale of a junked motor vehicle, after all costs of removal, storage, investigation, and sale, and satisfaction of any liens of record on the vehicle have been deducted therefrom, shall be held by the town for 30 days and paid to the registered owner upon demand. If the owner does not appear to claim the remainder of the proceeds within 30 days after disposal of the vehicle, the said funds will escheat to the state.
Nothing in this chapter shall apply to any vehicle in an enclosed building or any vehicle on the premises of a business enterprise being operated in a lawful place and manner if the vehicle is necessary to the operation of the enterprise, or to any vehicle which is lawfully used on a regular basis for personal or business purposes, or to any vehicle in an appropriate storage place or depository maintained in a lawful place or manner.
(Prior Code, § 90.12)
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