Sec. 3 AAC 105.420 - Real property; less than fair market value

ยง 3 AAC 105.420. Real property; less than fair market value

Unless otherwise required by law or contract, the disposition of property under this section to the state, an agency of the state, a municipality, a utility, or a non-profit corporation that is exempt from federal income tax under 26 U.S.C. 501(c)(3), in the discretion of the executive director may be for less than fair market value. An appraisal is not required for the disposal of property under this section.

(Eff. 2/16/96, Register 137)

Authority:AS 44.83.080

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