Section 44-14-412. Depositories of involuntary, gratuitous, or naked deposits -- Disposition of proceeds of sale; one-year limitation for claims of owner

   The proceeds of any sale made under Code Sections 44-14-410, 44-14-411, and 44-14-411.1 shall be applied to the payment of any expense incurred in caring for the property sold, any expense incurred in endeavoring to locate and make delivery of the property to the owner, any expense of advertising the sale, and any other necessary expenses. Should there be a balance, the balance shall be payable to the owner of the property; provided, however, that any claim of an owner shall be barred unless made within one year from the date of the sale.

Ga. L. 1947, p. 1165, § 3; Ga. L. 1982, p. 915, § 7.