Section 1720-01-15-.06 - SANCTIONS RELATING TO THE SALE OF SURPLUS PROPERTY(1) The Surplus Property Department (or designee) conducting the sale must ensure that all prospective purchasers are aware of the following sanctions:(a) It is a felony punishable by a fine of $5,000 to $10,000 and/or imprisonment from one (1) to ten (10) years for any person to make any arrangement, contract, agreement, trust, or combination of these among persons or corporations which is designed to or tends to control the price the university receives for such property or the cost to the purchaser of such property. In addition to this penalty, a state or university employee who violates this provision may be removed from employment and prohibited from such employment for five (5) years.(b) It is also a misdemeanor punishable by a fine of $500 or two-and-one-half times the value of the property bought, whichever is greater, for any state/university official or employee to purchase any surplus property from the university (except by bid at public auction) during his or her tenure of office or employment and for six (6) months thereafter. For all sales except public auctions, the Surplus Property Department (or designee) conducting the sale must obtain from each purchaser a signed disclaimer certifying that the purchaser is not a state or university employee and that the purchaser is not buying the property for or on behalf of any state or university employee.Tenn. Comp. R. & Regs. 1720-01-15-.06
Original rules filed September 30, 2019; effective December 29, 2019.Authority: T.C.A. § 49-9-209(e) and Public Acts of Tennessee, 1839-1840, Chapter 98, Section 5, and Public Acts of Tennessee, 1807, Chapter 64.