Oklahoma § 62-120.1 - Exchange, trade-in or separate sale authorized Transfers to educational entities without compensation

§ 62-120.1. Exchange, trade-in or separate sale authorized Transfers to educational entities without compensation

A. Each state department, institution, or agency which is

empowered by law to purchase supplies and equipment, and which also

is authorized by law to maintain a revolving fund and make

expenditures therefrom for purchase of supplies and equipment is

hereby authorized to dispose of outworn, outmoded, obsolescent, or

obsolete equipment solely for the purpose of acquiring suitable

equipment of comparable kind and purpose, by any of the following

methods or combinations of methods:

1. By exchange;

2. By trade-in to cover part of the cost of equipment to be

acquired by purchase; and

3. By separate cash sale in cases where it appears that a

greater amount can be recovered than could be realized by exchange

or trade-in; provided that nothing in this act shall apply to the

Grand River Dam Authority.

B. The entities authorized to dispose of obsolete equipment

pursuant to subsection A of this section are also authorized to

dispose of obsolete or surplus equipment by transfer to a public

school district or to entities within The Oklahoma State System of

Higher Education without compensation.

Added by Laws 1949, p. 419, § 1. Amended by Laws 1997, c. 215, § 1,

eff. Nov. 1, 1997; Laws 1999, c. 61, § 1, eff. Nov. 1, 1999.