(1) The administrator shall not sell or otherwise liquidate a security until three years after the administrator receives the security and gives the apparent owner notice under section 38-13-503 that the administrator holds the security. This subsection (1) applies to any security presumed abandoned under section 38-13-208 with a commencement date, reported under section 38-13-402, that is on or after July 1, 2014.
(2) The administrator shall not sell a security listed on an established stock exchange for less than the price prevailing on the exchange at the time of sale. The administrator may sell a security not listed on an established exchange by any commercially reasonable method.
Source: L. 2019: Entire article R&RE, (SB 19-088), ch. 110, p. 436, § 1, effective July 1, 2020.