Section 19.78 - Determination of No Intrinsic ValueIn making a determination that a vessel or structure has no intrinsic value, the commissioner shall consider the following factors:
(1) the condition of the vessel or structure, including whether the derelict vessel or structure: (A) is substantially dismantled and lacks more than one of the major components listed in § 19.71(15) of this title (relating to Definitions);(B) has any salvageable major components including, but not limited to, engine, hull, fuel tank, or rigging;(C) is unnumbered or lacks current registration; or(D) has any other relevant condition affecting its value.(2) the cost for removal, storage, and disposal of the vessel relative to the salvage value of the vessel or structure;(3) the cost of conducting a sale to a third party relative to the salvage value of the vessel or structure; and(4) any other matter deemed relevant by the commissioner.31 Tex. Admin. Code § 19.78
The provisions of this §19.78 adopted to be effective September 13, 2010, 35 TexReg 8377