Statutes, codes, and regulations
Code of Federal Regulations
Title 41 - PUBLIC CONTRACTS AND PROPERTY MANAGEMENTSubtitle C - FEDERAL PROPERTY MANAGEMENT REGULATIONS SYSTEMChapter 102 - FEDERAL MANAGEMENT REGULATIONSubchapter B - PERSONAL PROPERTYPart 102-37 - DONATION OF SURPLUS PERSONAL PROPERTYSubpart D - STATE AGENCY FOR SURPLUS PROPERTY (SASP)
CUSTODY, CARE, AND SAFEKEEPING
Section 102-37.255 - Must a SASP insure surplus property against loss or damage?

41 C.F.R. § 102-37.255

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Current through September 30, 2024
Section 102-37.255 - Must a SASP insure surplus property against loss or damage?

No, you are not required to carry insurance on Federal surplus property in your custody. However, if you elect to carry insurance and the insured property is lost or damaged, you must submit a check made payable to GSA for any insurance proceeds received in excess of your actual costs of acquiring and rehabilitating the property prior to its loss, damage, or destruction.

41 C.F.R. § 102-37.255