§514B-139 Upkeep of condominium; disposition of unclaimed possessions. (a) When personalty in or on the common elements of a project has been abandoned, the board may sell the personalty in a commercially reasonable manner, store the personalty at the expense of its owner, donate the personalty to a charitable organization, or otherwise dispose of the personalty in its sole discretion; provided that:
(b) The proceeds of any sale or disposition of personalty under subsection (a)(1), after deduction of any accrued costs of mailing, storage, and sale, shall be held for the owner for thirty days. Any proceeds not claimed within this period shall become the property of the association. The proceeds of any sale or disposition of personalty under subsection (a)(2) shall immediately become the property of the association. [L 2004, c 164, pt of §2; am L 2005, c 93, §7; am L 2021, c 98, §1]