Oklahoma § 62-120.1 Exchange, trade-in or separate sale authorized -

Oklahoma Statutes

§ 62-120.1 — Exchange, trade-in or separate sale authorized -

Oklahoma § 62-120.1

Title 62Public Finance

This text of Oklahoma § 62-120.1 (Exchange, trade-in or separate sale authorized -) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 62, § 62-120.1 (2026).

Text

Transfers to educational entities without compensation.

A.Each state department, institution, or agency which is empowered by law to purchase supplies and equipment, and which also is authorized by law to maintain a revolving fund and make expenditures therefrom for purchase of supplies and equipment is hereby authorized to dispose of outworn, outmoded, obsolescent, or obsolete equipment solely for the purpose of acquiring suitable equipment of comparable kind and purpose, by any of the following methods or combinations of methods: 1. By exchange; 2. By trade-in to cover part of the cost of equipment to be acquired by purchase; and 3. By separate cash sale in cases where it appears that a greater amount can be recovered than could be realized by exchange or trade-in; provided that nothing

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Transfers to educational entities without compensation. A. Each state department, institution, or agency which is empowered by law to purchase supplies and equipment, and which also is authorized by law to maintain a revolving fund and make expenditures therefrom for purchase of supplies and equipment is hereby authorized to dispose of outworn, outmoded, obsolescent, or obsolete equipment solely for the purpose of acquiring suitable equipment of comparable kind and purpose, by any of the following methods or combinations of methods: 1. By exchange; 2. By trade-in to cover part of the cost of equipment to be acquired by purchase; and 3. By separate cash sale in cases where it appears that a greater amount can be recovered than could be realized by exchange or trade-in; provided that nothing in this act shall apply to the Grand River Dam Authority. B. The entities authorized to dispose of obsolete equipment pursuant to subsection A of this section are also authorized to dispose of obsolete or surplus equipment by transfer to a public school district or to entities within The Oklahoma State System of Higher Education without compensation.