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Title 3 . Commerce, Community, and Economic Development
Chapter 77 . Fisheries Enhancement Tax Appropriations
Section 30. Disposal of repossessed property

3 AAC 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.

History: Eff. 3/29/86, Register 97

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 45.87.040

AS 45.87.060

AS 45.88.020 (a)

AS 45.88.050

AS 45.89.050

AS 45.89.070

AS 45.90.020 (a)

AS 45.90.050

AS 45.95.020

AS 45.95.055

AS 45.98.030 (3)

AS 45.98.055


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Last modified 7/05/2006