If any child, having been in the custody of the Department by virtue of § 16.1-278.8, upon being released or having escaped therefrom leaves any personal property valued at less than $100 in the custody of the Department for six months after his release or escape, the Director may sell such personal property at public sale or otherwise dispose of the property. The proceeds of such sale shall be kept for one year from the date of the child’s attaining the age of majority. Thereafter, any unclaimed proceeds shall be paid into the state treasury and credited to the Literary Fund.