North Carolina Administrative Code
Title 01 - ADMINISTRATION
Chapter 43 - SURPLUS PROPERTY
Subchapter A - STATE SURPLUS PROPERTY AGENCY
Section .0300 - DISPOSAL OF SURPLUS PROPERTY
Section 43A .0315 - FAILURE TO PAY OR REMOVE PROPERTY

Universal Citation: 01 NC Admin Code 43A .0315

Current through Register Vol. 39, No. 6, September 16, 2024

(a) Unless extended in accordance with Rule .0314 of this Chapter, if the bidder fails to pay in full for the property by the time and date indicated on the notice of award, the award shall be rescinded, and the defaulting bidder shall be charged with loss to the State, if any, together with all expenses of the sale.

(b) If the bidder does not remove the property purchased by the time and date indicated on the notice of award, the State Surplus Property Agency shall retain the purchase price, and resell the property a second time and retain all proceeds therefrom.

(c) Bidders who fail to pay shall be ineligible for award of future bids.

Authority G.S. 143-64.01; 143-64.04; 143-64.05;
Eff. June 1, 2007;
Readopted Eff. November 1, 2019.

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