South Dakota Codified Laws 5-24A-7. Property with fair market value less than one hundred dollars
Current as of: 2023 | Check for updates
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If the property has an estimated fair market value less than one hundred dollars, the administrator may designate one of the following methods of disposal:
(1) Transfer to a state agency or authorized entity with or without charge;
Terms Used In South Dakota Codified Laws 5-24A-7
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
(2) Internet sales;
(3) Public auction;
(4) Sale of the property as scrap;
(5) Exchange as trade-in for replacement equipment;
(6) Sales through agents for a negotiated fee;
(7) Direct sales to the public for established prices;
(8) Cannibalization; or
(9) Disposal at a landfill, recycling center, or other waste facility.
Source: SL 2008, ch 32, § 7.