R33-26-205. Related Party Transactions

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  (1) The division has a duty to the public to ensure that State-owned surplus property is disposed of in accordance with Title 63A, Chapter 2. A conflict of interest may exist or appear to exist when a related party attempts to purchase a State-owned surplus property item.

  (2) A related party is defined as someone who may fit into any of the following categories pertaining to the State-owned surplus property item in question:

  (a) has purchasing authority;

  (b) has maintenance authority;

  (c) has disposition or signature authority;

  (d) has authority regarding the disposal price;

  (e) has access to restricted information; and

  (f) may be perceived to be a related party using other criteria which may prohibit independence.

                    
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