(1) Any automobile dealer, wrecker service, or repair service owner, or any person or party on whose property a motor vehicle is lawfully towed at the written request of a law enforcement officer, who shall have an abandoned motor vehicle on his property, may sell, free and clear of all claims such motor vehicle by public auction, or if the abandoned motor vehicle has no market value, may dispose of the same after having received at least two (2) written statements from licensed automobile dealers as to the worthlessness of such motor vehicle and after compliance with subsection (2) of this section and Section 63-23-9. An abandoned motor vehicle as defined by Section 63-23-3(b) shall not be sold at auction until thirty (30) days from date of removal from a public street, road or highway.

(2) The person authorized to execute the sale or disposal of an abandoned motor vehicle shall notify, within ten (10) days of receipt of such vehicle, any Mississippi lienholder on such vehicle that unless a claim on the vehicle is made within thirty (30) days of such notice, the vehicle will be sold or destroyed.

(3) After the sale of any vehicle as set out hereinabove is made, the person or officer designated and making the sale of such property shall promptly upon completion of the sale deliver to the chancery clerk a list or itemization of the property sold, the amount paid for each item, the person to whom each item was sold, and all moneys received from such sale, the gross charges levied by the person making the sale against the property sold and the net amount paid over to the chancery clerk. Any sale made by any person, officer, corporation or association, shall have attached to the report of sale a sworn statement certifying as to the date such personal property or items sold first came into his possession or was abandoned on his premises and the date said personal property or item was sold.

(4) The proceeds of the sale in excess of repair, towing and storage expenses and all expenses incurred in connection with a sale when a sale is made under the provisions of this chapter, shall escheat to the county and shall be paid over to the chancery clerk to be placed into the general fund of the county in which the vehicle is abandoned. However, in those municipalities availing themselves of the provisions of Section 21-39-21, the proceeds of the sale in excess of the repairs, towing, storage or other necessary expenses incurred shall escheat to the general fund of the municipality.