If the charges referred to in § 31-22-15 remain unpaid for a period of at least sixty (60) days from and after the towing, the wrecker may sell the motor vehicle at private or public sale and the proceeds, after first paying the expenses of the sale, shall be applied as follows:

(1)  In payment of the wrecker’s lien;

(2)  In satisfaction of any indebtedness secured by a financing statement filed with the secretary of state;

(3)  In satisfaction of any indebtedness secured by any subordinate security interest if written satisfaction of demand for it is received before distribution of the proceeds is completed;

(4)  After payment of any or all of the above sections, the proceeds if any, shall be paid to the registered owner, if known to the wrecker.