§1103.  Unclaimed freight; proceeds of sale

The aggregate proceeds of the sale of unclaimed freight under such advertisement shall be applied first to the payment of charges and expenses and the residue, if any, shall be retained by the carrier for the period of six months from the date of sale, and if during this period, the consignees or owners of any of the property sold present themselves, they may receive the residue.  If the residue remains unclaimed after the expiration of six months, it shall be paid into the treasury of the state to the credit of the general school fund and the carrier shall be released from all liability on account of the property sold.