Section 3.77.030. Disposal of repossessed property.

	(a)  Unless otherwise prohibited, the department will dispose of all repossessed property by  
		(1) public auction, including advertised foreclosure sale or U.S. Marshal's sale with or without a minimum bid requirement;  
		(2) advertised sales through solicitation of competitive offers;  
		(3) negotiated or private sales, if no acceptable offers are received after advertising under (1) or (2) of this subsection;  
		(4) destruction;  
		(5) lease;  
		(6) lease with an option to purchase;  
		(7) redemption;  
		(8) transfer to other state department or agency; or  
		(9) other manner determined by the department to be in the best interests of the state.  
	(b)  All disposals of repossessed property are made on an "as is, where is" basis, with no implied or expressed warranties of condition.  

Authorities

16.10.310;16.10.335;16.10.337;16.10.339;16.10.355;16.10.510;16.10.555;26.15.010;26.15.030;26.15.040;26.15.085;27.09.050;27.09.055;44.33.020;44.33.245;44.33.272;45.81.120;45.81.190;45.81.210;45.81.230;45.87.040;45.87.060;45.88.020;45.88.050;45.88.140;45.88.150;45.98.030;45.98.055;01.05.031;45.89.050;45.90.070;45.81.150;45.90.020;45.95.055;44.62.125

Notes

Reference

3 AAC 77.040

Authority

AS 16.10.310(a) AS 16.10.335 AS 16.10.337 AS 16.10.339 AS 16.10.355 AS 16.10.510(4) AS 16.10.555 AS 26.15.010 AS 26.15.030 AS 26.15.040 AS 26.15.085 AS 27.09.050 AS 27.09.055 AS 44.33.020(1) AS 44.33.245(a) AS 44.33.272 AS 45.81.120 AS 45.81.190 AS 45.81.210 AS 45.81.230 AS 45.87.040 AS 45.87.060 AS 45.88.020(a) AS 45.88.050 AS 45.88.140 AS 45.88.150 AS 45.98.030(3) AS 45.98.055 Editor's note: Acting under AS 01.05.031, the revisor of statutes renumbered former AS 45.89.050 as AS 45.88.140; former AS 45.90.070 as AS 45.81.150; former AS 45.90.020(a) as AS 45.81.120, former AS 45.89.050 as AS 45.81.190; former AS 45.90.020 as AS 45.81.210; former AS 45.95.055 as AS 45.81.230. As of Register 203 (January 2013), the regulations attorney made conforming technical revisions under AS 44.62.125(b)(6) to 3 AAC 77.030 to reflect the statutory renumbering.

History

Eff. 3/29/86, Register 97

References

3.77.030