Alabama § 21-1-81 Authority of President to Sell by Lot or Individual Item, Subject to Consent of Board; When All Bids May Be Rejected and Sale Re-advertised or Items Sold by Negotiation

Alabama Statutes

§ 21-1-81 — Authority of President to Sell by Lot or Individual Item, Subject to Consent of Board; When All Bids May Be Rejected and Sale Re-advertised or Items Sold by Negotiation

Alabama·Title 21 Handicapped Persons·Ch. 1 Deaf and Blind Persons Generally·Art. 4 Sale, Etc., of Personal Property or Timber Owned by Institute by Auction or Bid

The President of the Alabama Institute for Deaf and Blind, with consent of the majority of the board of trustees, or his authorized representative may sell all items by lot or by individual item, whichever method, in his opinion, will bring the highest return for the items so advertised; provided, however, that in the event all bids received are less than the estimated market value of the property, the president or his authorized representative may reject all bids and re-advertise or sell by negotiated sale, provided further, however, that in the event the property is sold by negotiated sale under the provisions of this section, the value received must be more than the highest bid or bids received.

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The President of the Alabama Institute for Deaf and Blind, with consent of the majority of the board of trustees, or his authorized representative may sell all items by lot or by individual item, whichever method, in his opinion, will bring the highest return for the items so advertised; provided, however, that in the event all bids received are less than the estimated market value of the property, the president or his authorized representative may reject all bids and re-advertise or sell by negotiated sale, provided further, however, that in the event the property is sold by negotiated sale under the provisions of this section, the value received must be more than the highest bid or bids received.

Alabama § 21-1-81 (Authority of President to Sell by Lot or Individual Item, Subject to Consent of Board; When All Bids May Be Rejected and Sale Re-advertised or Items Sold by Negotiation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.