sec.170Dealing with seized stock

### sec.170 Dealing with seized stock This section applies if the owner of the seized stock does not claim the stock within 3 days after the owner is given the notice. If the chief executive officer of the local government reasonably believes the stock have a market value of more than the amount prescribed under a regulation, the chief executive officer must sell the stock by public auction or tender. If the chief executive officer reasonably believes the stock have a market value of the prescribed amount or less, the chief executive officer may dispose of the stock in a way the chief executive officer considers appropriate. Compensation is not payable for a sale or disposal under this section. For subsection (2) , the amount prescribed must not be less than $1000. (sec.170-ssec.1) This section applies if the owner of the seized stock does not claim the stock within 3 days after the owner is given the notice. (sec.170-ssec.2) If the chief executive officer of the local government reasonably believes the stock have a market value of more than the amount prescribed under a regulation, the chief executive officer must sell the stock by public auction or tender. (sec.170-ssec.3) If the chief executive officer reasonably believes the stock have a market value of the prescribed amount or less, the chief executive officer may dispose of the stock in a way the chief executive officer considers appropriate. (sec.170-ssec.4) Compensation is not payable for a sale or disposal under this section. (sec.170-ssec.5) For subsection (2) , the amount prescribed must not be less than $1000.