Any proceeds from the sale of an abandoned motorboat less any expenses incurred by the local authority or state agency shall be held by the local authority or state agency, without interest, for the benefit of the owner or lienholders of such motorboat for a period of two years. If not claimed within such two-year period, the proceeds shall be paid into the general fund of the local authority entitled to custody under section 37-12,103 or the General Fund if a state agency is entitled to custody under section 37-12,103.

Terms Used In Nebraska Statutes 37-12,104

  • Motorboat: shall mean any watercraft propelled in any respect by machinery, including watercraft temporarily equipped with detachable motors, but shall not include a vessel which has a valid marine document issued by the Bureau of Customs of the United States Government or any federal agency successor thereto. See Nebraska Statutes 37-1204
  • Owner: shall mean a person, other than a lienholder, having the property in or title to a motorboat. See Nebraska Statutes 37-1205
  • State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
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