If a peace officer has probable cause to believe that a motor vehicle or trailer or any component part of a vehicle is stolen, he shall impound the vehicle or part and notify its lawful owner and the agency to which the theft was reported of its recovery and location. A vehicle or component part which has been impounded pursuant to this section shall be released to its lawful owner if the owner presents satisfactory evidence of his ownership. A vehicle or component part that has been impounded under this section and which has not been claimed within ninety days following notice of recovery to the owner or if the owner cannot be located after a reasonable effort within ninety days following impoundment is forfeited and shall be disposed of in accordance with § 32-30-16 .
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