(For Effective Date, See note.) Transfer to Charitable Institutions or Public Corporations by Negotiated Sale; Conditions

  1. Law
  2. Georgia Code
  3. State Government
  4. Department of Administrative Services
  5. Disposition of Surplus Property
  6. (For Effective Date, See note.) Transfer to Charitable Institutions or Public Corporations by Negotiated Sale; Conditions

Checkout our iOS App for a better way to browser and research.

  1. (For effective date, see note.) As used in this Code section, the term:
    1. "Charitable institution" means any nonprofit tax-exempt person, firm, or corporation.
    2. "Public corporation" means any public authority or other public corporation created by or pursuant to the laws of any state.
  2. In addition to any other authority provided by Code Sections 50-5-140 through 50-5-143, this Code section, and Code Section 50-5-146, the Department of Administrative Services shall be authorized to dispose of surplus property, including surplus property subject to paragraph (7) of Code Section 50-5-51, by the transfer of the property to any charitable institution or public corporation through a negotiated sale if the department determines that such sale would be in the best interests of the state, and, under the circumstances, the negotiated sales price would constitute a reasonable consideration for the property.
  3. When any surplus property is sold to a charitable institution or to a public corporation pursuant to subsection (b) of this Code section, the sale shall be subject to the following conditions:
    1. The property shall not be resold by the purchaser within one year after the sale without the written consent of the Department of Administrative Services; and
    2. The Department of Administrative Services shall have the right and obligation to supervise the resale of the property at public outcry to the highest responsible bidder if the resale is within one year after the sale and, if the resale price exceeds the original negotiated sales price, the amount of the excess shall be paid to the Department of Administrative Services.

(Ga. L. 1979, p. 1071, § 1; Ga. L. 2006, p. 340, § 3/SB 592; Ga. L. 2020, p. 347, § 2/HB 848.)

Code Commission notes.

- Pursuant to Code Section 28-9-5, in 1986, "Code Section" was inserted preceding "50-5-146" in subsection (b).


Download our app to see the most-to-date content.