Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 41 - Public Contracts and Property Management |
Subtitle C - Federal Property Management Regulations System |
Chapter 102 - Federal Management Regulation |
SubChapter B - Personal Property |
Part 102-42 - Utilization, Donation, and Disposal of Foreign Gifts and Decorations |
Subpart A - General Provisions |
Appraisals |
§ 102-42.40 - When is an appraisal necessary?
Latest version.
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§ 102-42.40 When is an appraisal necessary?
An appraisal is necessary when -
(a) An employee indicates an interest in purchasing a gift or decoration. In this situation, the appraisal must be obtained before the gift or decoration is reported to GSA for screening (see 102-42.20); or
(b) GSA requires the employing agency to obtain an appraisal of a gift or decoration that the agency has retained for official use and no longer needs before accepting the agency's report of the item as excess personal property; or
(c) The policy of one's own agency requires it, pursuant to 5 U.S.C. 7342(g).
Note to § 102-42.40 paragraphs (a) and (b):Refer to § 102-42.50 for how appraisals under these two situations are handled.
[74 FR 2396, Jan. 15, 2009]