Section 4-20.5-7-7 - Transfer of property between agencies or educational institutions(a) Surplus property may, under the policies prescribed by the budget agency, be transferred to another agency or a state educational institution.(b) The policies of the budget agency must include a requirement that the agency head of the accepting agency or the state educational institution do the following: (1) Find that the property is necessary or convenient to the accepting agency's or state educational institution's use or purpose.(2) Request, in writing, approval of the governor to transfer possession of the property from the transferring agency.(c) With the approval of the budget agency, the accepting agency or state educational institution may transfer funds to the transferring agency in consideration of the transfer.(d) The offer to the transferring agency must remain open for thirty (30) days after the offer was made. If an offer has not been rejected or accepted by the agency within thirty (30) days, the department may dispose of the property as otherwise permitted under this chapter.As added by P.L. 7-1993, SEC.7. Amended by P.L. 39-1995, SEC.2; P.L. 267-1999, SEC.6; P.L. 246-2005, SEC.42.