507-66 Method of sale. (a) No sooner than fifteen days after sending the final demand and notice of sale, pursuant to section 507-65(1), the owner shall cause an advertisement of the sale to be:

(1) Published once a week for two weeks consecutively in a newspaper of general circulation published in the judicial district where the sale is to be held; or

(2) Disseminated in any other commercially reasonable manner; provided that at least three independent bidders participate in the sale.

The advertisement shall include a general description of the goods, the name of the person on whose account they are being stored, the total sums due, and the name and location of the storage facility.

(b) The sale shall be conducted in a commercially reasonable manner, which shall include a sale conducted on an online website that customarily conducts self-storage lien sales. After deducting the amount of the lien and costs, the owner shall retain any excess proceeds of the sale on the occupant's behalf. The occupant, or any other person having a court order or other judicial process against the property, may claim the excess proceeds, or a portion thereof sufficient to satisfy the particular claim, at any time within one year of the date of sale. Thereafter, the owner shall pay any remaining excess proceeds to the State as provided in chapter 523A. [L 1984, c 239, pt of 1; am L 1985, c 68, 22; am L 2017, c 180, 8]

 

 

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