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28 U.S.C. § 3007Perishable personal property

submitted 36 years ago by Pub. L. 101-647 to r/title-28-JUDICIARY-AND-JUDICIAL-PROCEDURE · 172 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain
(a)Authority To Sell.—

If at any time during any action or proceeding under this chapter the court determines on its own initiative or upon motion of any party, that any seized or detained personal property is likely to perish, waste, or be destroyed, or otherwise substantially depreciate in value during the pendency of the proceeding, the court shall order a commercially reasonable sale of such property.

(b)Deposit of Sale Proceeds.—

Within 5 days after such sale, the proceeds shall be deposited with the clerk of the court, accompanied by a statement in writing and signed by the United States marshal, to be filed in the action or proceeding, stating the time and place of sale, the name of the purchaser, the amount received, and an itemized account of expenses.

(c)Presumption.—

For purposes of liability on the part of the United States, there shall be a presumption that the price paid at a sale under subsection (a) is the fair market value of the property or portion.

Source credit: (Added Pub. L. 101–647, title XXXVI, § 3611, Nov. 29, 1990, 104 Stat. 4937.)

history & why it existsrecord from the source credit
  • 1990Enacted · Pub. L. 101-647 · 104 Stat. 4937

A history note hasn’t been published yet. The record shows enactment by Pub. L. 101-647 on 1990-11-29.

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