Ala. Admin. Code r. 460-X-13-.04

Current through Register Vol. 43, No. 1, October 31, 2024

Section 460-X-13-.04 - Property Held In Temporary Custody By The Commission

(a) Property held in temporary custody for a definite term by the Commission shall be considered subject to acquisition or deaccession if, at the end of the specified period of temporary custody, no assertion of title has been made, and further the Commission has given notice pursuant to 460-X-13-.05 and after this notice no assertion of title has been made.

(b) Property held in temporary custody not for a definite period by the Commission shall be considered subject to acquisition if at the end of five years from the beginning of temporary custody, no assertion of title has been made, and further the Commission has given notice pursuant to 460-X-13-.05 and after this notice no assertion of title has been made.

New Rule: Filed September 13, 2012; effective October 18, 2012.

Author: William D. Little, Clyde Eller

Statutory Authority:Code of Ala 1975, § 41-9-249(7) a.