Hawaii Revised Statutes 261-72 – Disposition of proceeds of sale
Terms Used In Hawaii Revised Statutes 261-72
- Aircraft: means any contrivance now known or hereafter invented, used or designed for navigation of or flight in the air. See Hawaii Revised Statutes 261-1
- Airport: means any area of land or water which is used, or intended for use, for the landing and takeoff of aircraft, and any appurtenant areas which are used, or intended for use, for airport buildings or other airport facilities or rights-of-way, including approaches, together with all airport buildings and facilities located thereon. See Hawaii Revised Statutes 261-1
- Department: means the department of transportation. See Hawaii Revised Statutes 261-1
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: means any individual, firm, partnership, corporation, company, association, joint stock association, or body politic; and includes any trustee, receiver, assignee, or other similar representative thereof. See Hawaii Revised Statutes 261-1
The department of transportation shall deposit into the airport revenue fund, that portion of the proceeds of the sale of an aircraft as shall represent the storage and other airport fees and charges due the department, the expenses of the auction, and any other expense incurred by the department in taking into custody and disposing of an aircraft. The balance, if any, shall be deposited into the general fund of the State. The owner may recover any such balance of the proceeds from the State only if the owner files a claim therefor with the department of budget and finance within five years after the execution of the bill of sale. A lien holder shall receive priority of payment from the balance of the proceeds to the extent of the lien holder’s lien on the aircraft. If the proceeds of the sale are insufficient to cover the storage and other airport fees and charges, the expenses of the auction and other expenses of the department in taking into custody and disposing of the aircraft, the department of transportation may, within five years, bring an action for the deficiency in a court of appropriate jurisdiction against the person who was the owner of the aircraft at the time custody was taken by the department.