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  10. Article 4 - Sale, etc., of Personal Property or...


Article 4 - Sale, etc., of Personal Property or Timber Owned by Institute by Auction or Bid.


  • Section 21-1-80 - Contracts for sale, etc., of tangible personal property or standing timber of institute by public auction or sealed bid, advertisement of sale; manner of taking bids and awarding contract.
  • Section 21-1-81 - Authority of president to sell by lot or individual item, subject to consent of board; when all bids may be rejected and sale re-advertised or items sold by negotiation.
  • Section 21-1-82 - Institute's officers and employees not to act as agents for bidders; ability to bid or purchase.
  • Section 21-1-83 - Advertised property to be available for inspection.
  • Section 21-1-84 - Disposition of proceeds of sale.
  • Section 21-1-85 - Payment by purchaser due upon removal; time limit for removal; exception for standing timber.
  • Section 21-1-88 - Applicability; validation of certain prior sales.
  • Section 21-1-86 - Sale violating this article void; penalties for persons responsible and bondsmen; how penalties recovered.
  • Section 21-1-87 - Violation constitutes a misdemeanor.
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