South Dakota § 5-24A-6 Property with fair market value greater than one hundred dollars.

South Dakota Statutes

§ 5-24A-6 — Property with fair market value greater than one hundred dollars.

South Dakota·Title 5 PUBLIC PROPERTY, PURCHASES AND CONTRACTS·Ch. 5-24 DISPOSAL OF STATE SURPLUS PROPERTY

If the property has an estimated fair market value greater than one hundred dollars, the administrator may designate one of the following methods of disposal:

(1)Transfer to another state agency or Indian tribe with or without charge;

(2)Public auction;

(3)Exchange as trade-in for replacement equipment;

(4)Private direct sales at no less than ninety percent of the fair market value;

(5)Direct sales to any authorized entity at no less than ninety percent of the fair market value; or (6) Cannibalization. If the expense of disposal under this section would reduce the net disposal value of the property to less than one hundred dollars, the property may be disposed of pursuant to the provisions of § 5-24A-7 .

Free access — add to your briefcase to read the full text and ask questions with AI

If the property has an estimated fair market value greater than one hundred dollars, the administrator may designate one of the following methods of disposal: (1) Transfer to another state agency or Indian tribe with or without charge; (2) Public auction; (3) Exchange as trade-in for replacement equipment; (4) Private direct sales at no less than ninety percent of the fair market value; (5) Direct sales to any authorized entity at no less than ninety percent of the fair market value; or (6) Cannibalization. If the expense of disposal under this section would reduce the net disposal value of the property to less than one hundred dollars, the property may be disposed of pursuant to the provisions of § 5-24A-7 .

South Dakota § 5-24A-6 (Property with fair market value greater than one hundred dollars.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.