Section 149
ActRepealedProvision 116 of 143
Section 149
(a)
it is under the value of $1,000;
(b)
it is so much damaged or of so perishable a nature that it cannot with advantage be kept; or
(c)
it is not sufficient value to pay for warehous-Ing.
(2)
The proceeds of the sale shall, after defraying the expenses thereof, be held by the receiver for the same pur-poses and subject to the same claims, rights and liabilities as if the wreck had remained unsold.
Unclaimed Wreck