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A. Prior to disposing of any unclaimed property, the custodian shall send a written notice by certified mail, return receipt requested, to the last known address of the owner of the unclaimed property if the name and last known address of the owner can be determined by the custodian. The notice shall include a description of the property and the amount or estimated value of the property. The notice shall state where the owner may make inquiry about or claim the property. The notice shall also state that if the owner fails to provide the custodian with a written claim for the return of the property within sixty (60) days of the date of the mailing of the notice, the property shall become the sole property of the town and any claim of the owner to such property shall be deemed forfeited. (Ord. 21, Series 2005)

B. If the custodian cannot determine the owner of unclaimed property, or the owner's last known address, then prior to disposing of any such unclaimed property the custodian shall cause a notice to be published in accordance with section 1-22-2 of this title. The notice shall include a description of the property and the amount or estimated value of the property. The notice shall state where the owner may make inquiry about or claim the property. The notice shall also state that if the owner fails to provide the custodian with a written claim for the return of the property within sixty (60) days of the date of the publication of the notice, the property shall become the sole property of the town, and any claim of the owner to such property shall be deemed forfeited. (Ord. 3, Series 2011)

C. No notice shall be required prior to the custodian disposing of any item of unclaimed property which the custodian has determined, after investigation, to be of insubstantial commercial value, and the custodian may dispose of any such item as provided in section 1-17-11 of this chapter. (Ord. 21, Series 2005)