3 Alaska Admin. Code § 77.030

Current through December 21, 2024

Section 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.

3 AAC 77.030

Eff. 3/29/86, Register 97

Acting under AS 01.05.031, the revisor of statutes renumbered former AS 45.89.050 as AS 45.88.140; former AS 45.90.070 as AS 45.81.150; former AS 45.90.020(a) as AS 45.81.120, former AS 45.89.050 as AS 45.81.190; former AS 45.90.020 as AS 45.81.210; former AS 45.95.055 as AS 45.81.230. As of Register 203 (January 2013), the regulations attorney made conforming technical revisions under AS 44.62.125(b)(6) to 3 AAC 77.030 to reflect the statutory renumbering.

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 45.81.120

AS 45.81.190

AS 45.81.210

AS 45.81.230

AS 45.87.040

AS 45.87.060

AS 45.88.020(a)

AS 45.88.050

AS 45.88.140

AS 45.88.150

AS 45.98.030(3)

AS 45.98.055