New Jersey Administrative Code
Title 10 - HUMAN SERVICES
Chapter 97 - THE BUSINESS ENTERPRISE PROGRAM OF THE NEW JERSEY COMMISSION FOR THE BLIND AND VISUALLY IMPAIRED
Subchapter 3 - LICENSING OF MANAGERS
Section 10:97-3.6 - Inventory management

(a) When a business is transferred from one manager to another, for any cause, the new manager has the option of purchasing some or the entire existing inventory of the previous manager, if the previous manager wishes to sell all or part of the inventory.

(b) The Commission shall schedule the taking of inventory on the effective date of transfer or closing of the facility. The two managers and a representative of the Commission are to be present, so that there can be agreement as to the amount and value of stock and supplies on hand. The Commission may compute the value of the inventory using current average wholesale prices and document the procedure in the managers' records.

(c) At the time of the inventory taking, the Commission will conduct an inspection of all equipment in which the Commission has title to assure its working order. The previous manager shall be responsible for the cost of repairs of any defective equipment under conditions set forth in N.J.A.C. 10:97-4.8.