CHAPTER 16
FORMERLY
HOUSE BILL NO. 99
AS AMENDED BY
HOUSE AMENDMENT NO. 1
AN ACT TO AMEND SECTION 1143, CHAPTER 11, TITLE 12, DELAWARE CODE, RELATING TO SALE OF PERSONAL PROPERTY BY STATE ESCHEATOR.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. Subsection (a) of Section 1143, Chapter 11, Title 12, is amended to read in its entirety as follows :
"(a) All abandoned property, other than money, delivered to the State Escheator pursuant to this chapter, shall be sold or disposed of within 15 months after such delivery, at public auction to the highest bidder or in such manner and at such times as the State Escheator, in his discretion, shall determine to be in the best interest of the State. In the case of stocks, bonds or other securities, disposition may be made by sale through a registered broker on a recognized securities exchange or over the counter market, or, if there is no ready market for such security, by negotiation or public auction.
Section 2. Effective Date. This Act shall take effect on date of enactment.
Approved April 12, 1973.