(a) Except as provided in subsection (b) of this section, money received from the
auction or sale of any surplus personal property in excess of charges which might
be imposed by the Department of General Services for conducting the auction or sale
shall be deposited in the General Fund of the State. If the Department of Budget and Management approves, the money in excess of the
service charge may be credited to the account of the unit of the State government
that declared the property to be excess personal property.
(b) Money received from the auction or sale of surplus personal property shall be
deposited as follows:
(1) if the item was purchased from a special fund appropriation, the proceeds shall
be deposited in the appropriate special fund;
(2) if the item was purchased with bond money, the proceeds shall be deposited in
the Annuity Bond Fund; and
(3) if the item was purchased with federal money, the proceeds shall be disbursed
in accordance with federal law.
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?
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.