(1) A licensee may sell at public sale all property other than money presumed to be abandoned after the expiration of 60 days from the later date of publication or mailing required by section 46(4) following such advertisement of the sale as the Minister, may prescribe.
(2) A purchaser shall receive title to property sold under subsection (1) free from all claims of the owner or prior holder and from all persons claiming through or under the purchaser.
(3) A licensee shall deposit to the Accountant General, the proceeds of the sale of property made under subsection (1) less all reasonable costs incurred by it in connection with the sale, mailing of notices, and service as it may deem appropriate to assure the prompt payment of claims which may subsequently be made and approved by the Minister.
(4) Any property remaining unsold after a public sale held under subsection (1) shall be delivered to the Accountant General and shall be disposed of by the Accountant General in such manner as the Minister may direct.