§ 47-30.2-40 — (701) Public sale of property

North Dakota § 47-30.2-40

• Jurisdiction: North Dakota
• Title 47: Property
• Ch. 47-30.2: Revised Uniform Unclaimed Property Act

Text

1. Subject to section 47-30.2-41, not earlier than three years after receipt of property
presumed abandoned, the administrator may sell the property.
2. Before selling property under subsection 1, the administrator shall give notice to the
public of:
a. The date of the sale; and
b. A reasonable description of the property.
3. A sale under subsection 1 must be to the highest bidder:
a. At public sale at a location in this state which the administrator determines to be
the most favorable market for the property;
b. On the internet; or
c. On another forum the administrator determines is likely to yield the highest net
proceeds of sale.
4. The administrator may decline the highest bid at a sale under this section and reoffer
the property for sale if the administrator determines the highest bid is insufficient.
5. If a sale held under this section is to be conducted other than on the internet, the
administrator shall publish on the administrator's website a notice of the sale, at least
ten days before the date of sale.