Tennessee Statutes

§ 12-2-403 — Methods of disposal

Tennessee·Title 12
(a)No article or personal property may be disposed of as surplus except by one (1) of the following methods:
(1)Public auction, publicly advertised and held;
(2)Sale under sealed bids, publicly advertised, opened and recorded;
(3)Sale by internet auction;
(4)Negotiated contract for sale, at arms length; but only in those instances in which the availability of the property is recurring or repetitive in character, such as marketable waste products, for disposal of the property as it is generated in the most economically feasible, fiscally sound, and administratively practicable method for the state to utilize;
(5)Trade-in, where such is permitted due to the nature of the property or equipment and under the terms and conditions of the contract by which the state replaces the property, a

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Legislative History

Amended by 2022 Tenn. Acts, ch. 992, s 7, eff. 7/1/2022. Amended by 2021 Tenn. Acts, ch. 527, s 1, eff. 5/25/2021. Acts 1976, ch. 821, § 3; 1978, ch. 625, § 1; 1978, ch. 797, § 1; T.C.A., § 12-237; Acts 1981, ch. 181, § 1; 1981, ch. 319, § 1; 1982, ch. 845, § 1; 1993, ch. 299, § 1; 1997 , ch. 52, § 1; 1997 , ch. 359, § 1; 1997 , ch. 474, § 1; 1998, ch. 853, § 1; 2001, ch. 90, § 1; 2007 , ch. 411, § 1; 2011 , ch. 295, §§ 9 (a), 19; 2012 , ch. 626, § 3.

Nearby Sections

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