306Sale of wreck by receiver

#### 306 Sale of wreck by receiver (1) A receiver may at any time sell any wreck in his or her custody, if in the receiver’s opinion it is: (a) under the value of $40; or (b) of such condition or nature that it should not be kept; or (c) not of sufficient value to pay for keeping. (2) The proceeds of the sale shall, after defraying the expenses thereof, be held by the receiver for the same purposes and subject to the same claims, rights, and liabilities as if the wreck had remained unsold.