N.J. Admin. Code § 19:35-4.15

Current through Register Vol. 57, No. 1, January 6, 2025

Section 19:35-4.15 - Internet auction process for surplus personal property

(a) The disposition of surplus personal property may be conducted through an internet auction.

(b) Disposition by internet auction shall require the publication of an advertisement in the "Public/Legal Notice" section of a daily newspaper with Statewide circulation, which advertisement must contain:

1. A clear statement that the disposition will take place over the internet;

2. The internet address of the website where the auction can be found;

3. The date and time for the internet auction;

4. A description of the surplus personal property to be sold; and

5. A clear statement of all terms and conditions material to the disposition.

(c) The website identified in the advertisement shall set forth all requirements for bidding, the terms and conditions of the disposition, and the procedures for the transfer of the surplus personal property to be sold.

(d) Surplus personal property that is the subject of an internet auction shall be awarded to the highest bidder meeting the terms and conditions material to the disposition.

(e) In the event the SDA determines, on a case-by-case basis, that there is insufficient participation in the internet auction with respect to any item or items of surplus personal property being offered for disposition, at any time prior to the disposition of such item or items, the SDA reserves the right to remove the same from the internet auction and terminate the disposition with respect thereto.

(f) The SDA shall determine whether any item or items of surplus personal property withdrawn from an internet auction pursuant to (e) above shall be re-offered for disposition, or otherwise disposed of in a manner that is consistent with this subchapter.

(g) Where more than one item of surplus personal property is the subject of an internet auction, the withdrawal of any item or items from the disposition by internet auction shall not affect the disposition of the remaining items to be sold.

N.J. Admin. Code § 19:35-4.15

Adopted by 54 N.J.R. 647(a), effective 4/4/2022