41 CFR 102-42.140 - How is a sale of a foreign gift or decoration to an employee conducted?

Code of Federal Regulations - Title 41: Public Contracts and Property Management

Updated to: December 30, 2005

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TITLE 41 - PUBLIC CONTRACTS AND PROPERTY MANAGEMENT

SUBTITLE C - FEDERAL PROPERTY MANAGEMENT REGULATIONS SYSTEM

CHAPTER 102 - FEDERAL MANAGEMENT REGULATION

SUBCHAPTER B - PERSONAL PROPERTY

PART 102 - 42 - UTILIZATION, DONATION, AND DISPOSAL OF FOREIGN GIFTS AND DECORATIONS

subpart d - SALE OR DESTRUCTION OF FOREIGN GIFTS AND DECORATIONS

102 - 42.140 - How is a sale of a foreign gift or decoration to an employee conducted?

Foreign gifts and decorations must be offered first through negotiated sales to the employee who has indicated an interest in purchasing the item. The sale price must be the commercially appraised value of the gift. Sales must be conducted and documented in accordance with part 10145 of this title.

[68 FR 56496, Sept. 4, 2003]