Tenn. Comp. R. & Regs. 0690-02-01-.07 - ACCEPTABLE PAYMENT

(1) Possession of property sold to the general public under any method prescribed in rule .03 of this chapter shall not pass until payment is made by cash, cashier's check, or certified check.

(2) Possession shall pass to political subdivisions of the State and other governmental entities upon receipt by the State of purchase vouchers of such political subdivisions and other governmental entities. Titles to motor vehicles sold as surplus property to political subdivisions and other governmental entities shall be closed as to transferee when said title is passed.

(3) Possession shall not pass to eligible corporations until receipt of a purchase order signed by an authorized representative of such corporation or until payment is made by cash, check, or certified check.

Notes

Tenn. Comp. R. & Regs. 0690-02-01-.07

Original rule filed April 20, 1978; effective July 14, 1978. Amendment filed August 25, 1983; effective November 14, 1983.

Authority: T.C.A. §§12-235 through 12-248 and Public Acts of 1976, Chapter 821.