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Title 3 . Commerce, Community, and Economic Development
Chapter 77 . Fisheries Enhancement Tax Appropriations
Section 60. Notification of acceptance or rejection of an offer

3 AAC 77.060. Notification of acceptance or rejection of an offer

(a) Within 15 days after the deadline for submission of offers regarding repossessed property, the loan committee will review all offers received.

(b) The loan committee may reject all offers, accept an offer as presented, make a counter offer to the apparent best offer, or accept a counter offer. A contract is formed when acceptance of an offer or a counter offer is communicated to the other contracting party.

(c) Within six working days after the date that a contract is formed or a decision is made to reject all offers notice will be mailed by first class mail to all offerors or their designated agent of the accepted offer, if any, the property sold, and any similar property still available, with the highest offer received but not accepted, if any. The decision to accept or reject an offer is subject to appeal under 3 AAC 77.080.

(d) If all offers are rejected, new offers will continue to be considered and the department will, in its discretion, resolicit offers without readvertising. If a subsequent offer or counter offer is accepted and a contract is formed, notice will be mailed only to persons who submitted an offer after the original deadline for submission of offers and to persons who have appeals pending in regard to the same matter.

History: Eff. 3/29/86, Register 97; am 7/4/91, Register 119

Authority: AS 16.10.310

AS 16.10.339

AS 16.10.510 (4)

AS 26.15.010

AS 26.15.030

AS 26.15.085

AS 27.09.050

AS 44.33.020 (1)

AS 44.33.245 (a)

AS 45.88.020 (a)

AS 45.89.070

AS 45.90.020 (a)

AS 45.95.010

AS 45.95.055

AS 45.98.030 (3)

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Last modified 7/05/2006