Missouri Laws 305.808 – Sale of aircraft, use of proceeds — return to owner, when
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1. If the aircraft is sold, the airport superintendent shall satisfy the airport superintendent’s lien, plus the reasonable expenses of notice, advertisement, and sale from the proceeds of the sale.
2. The balance of the proceeds of the sale, if any, shall be held by the airport superintendent and delivered on demand to the owner of the aircraft.
Terms Used In Missouri Laws 305.808
- Lien: A claim against real or personal property in satisfaction of a debt.
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
3. If no person claims the balance within twelve months of the date of sale, the airport shall retain the funds and use the funds for airport operations.