430.110. Sale of articles--disposition of proceeds--excess to general revenue subject to reclamation by owner. - Missouri Statutes

Sale of articles--disposition of proceeds--excess to general revenuesubject to reclamation by owner.

430.110. 1. If the chattel or chattels are not redeemedprior to the date of sale* provided in the notice required bysection 430.100, the lienor may sell such articles on the day andat the place specified in such notice. The proceeds shall bedistributed in the following order:

(1) To the satisfaction of the seller's lien and thenecessary expenses of advertising as provided in section 430.100;

(2) To the satisfaction of any prior lien on the chattelcreated by any financing statement on the same, duly perfected inaccordance with the laws of this state;

(3) The excess, if any, shall thereupon be deposited withthe county treasurer, or city treasurer in the city of St. Louis,together with a sworn statement containing the name of the owner,description of the article, amount of lien, the amount paid toany prior lienholders, sale price, name of purchaser, cost andmanner of advertising.

2. The said treasurer shall credit such excess to thegeneral revenue fund of the county, or the city of St. Louis,subject to the right of the owner or his representative toreclaim the same at any time within three years of the date ofsuch deposit with the treasurer, after presentation of properevidence of ownership and obtaining an order of the countycommission, or comptroller of the city of St. Louis, directed tosaid treasurer for the return of said excess deposit.

(L. 1945 p. 1141 § 4, A.L. 1972 H.B. 1188)

*Word "same" appears in original rolls.