Whenever a levy is made as a result of an execution upon a tax warrant or lien:
(1) Before the sale, the executive director or his or her designee shall determine
a minimum price for which the property shall be sold, and if no person offers at the
sale the amount of the minimum price for such property, the sale may be, in the discretion
of the executive director or his or her designee, rescheduled; the property may be
declared to be purchased at such price for the state; or the property may be declared
to be sold to the highest bidder. In determining the minimum price, the executive director or his or her designee
shall take into account the expense of making the levy and sale.
(2) The department shall by rule prescribe the manner and other conditions of the
sale of property seized. Such regulations shall provide:
(a) That the sale may not be conducted in any manner other than by public auction
or by public sale under sealed bids.
(b) In the case of the seizure of several items of property, whether such items must
be offered separately, in groups, or in the aggregate or whether such property must
be offered in any combination thereof, and sold under whichever method produces the
highest aggregate amount.
(c) Under what circumstances the executive director or his or her designee may adjourn
the sale from time to time; however, any such adjournment may not exceed 1 month.
(3) Any person whose property has been levied upon may pay the amount due, together
with the expenses of the proceeding, if any, to the department at any time prior to
the sale; and upon such payment, the department shall restore such property to that
person, and all further proceedings in connection with the levy on such property shall
cease from the date of such payment.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.