– Application of proceeds. A. Every person lawfully in possession of an abandoned vessel shall have a special lien thereon for the compensation due from the owner of such abandoned vessel for all expenses incurred. B. The lien may be foreclosed by a sale of such abandoned vessel upon giving notice and in the following manner. The notice shall contain: 1. The name of the party bringing action and the name of the owner or any person claiming any interest therein; 2. A full description of the vessel, giving all available information as to the make, year, serial number, registration decal number with year and the state from which the registration was issued; 3. A full statement of all the facts; 4. The amount of the claim, giving a full description of the work, labor, storage or any other costs involved; and 5. The date, time and place of the sale. The notice shall be posted in three public places in the county in which the vessel is to be sold at least ten (10) days before the time specified therein for such sale, and a copy of such notice shall be mailed to the owner and any other person claiming any interest in the abandoned motor vehicle, at their last-known mailing address, by registered mail on the same date of posting such notice. C. Proceedings for such sale under this section shall not be commenced until ten (10) days after the lien has accrued. D. A return of such sale shall be made at the time of sale and proof of posting and mailing of the notice of sale of abandoned vessel. E. The proceeds from the sale of an abandoned vessel made pursuant to subsection B of this section shall be applied in the following order: 1. To the reasonable cost incurred in the sale of the abandoned vessel; 2. To the satisfaction of the special lien provided for in subsection A of this section; 3. To the satisfaction of any indebtedness secured by a subordinate security interest or lien in the vessel; and 4. To the owner if the owner is known, and if the owner or the address of the owner is not known, to Service Oklahoma to be remitted to the State Treasurer and deposited in the General Revenue Fund.
‹ Prev All Oklahoma sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.