[Code of Federal Regulations]
[Title 26, Volume 18]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR403.55]

[Page 779]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 403_DISPOSITION OF SEIZED PERSONAL PROPERTY--Table of Contents
 
           Subpart F_Administrative Sale of Personal Property
 
Sec. 403.55  Alternative methods of sale.


    When personal property forfeited administratively is to be sold, the 
Commissioner or his delegate shall cause a notice of sale to be placed 
in a newspaper of general circulation published in the judicial district 
wherein the seizure was made. The sale shall occur not less than 10 days 
from the date of the publication of the notice. At the discretion of the 
Commissioner or his delegate the forfeited personal property may be sold 
at public auction to the highest bidder on open, competitive bids, or 
sold to the highest bidder on sealed, competitive bids.

(Sec. 7325, 68A Stat. 870, as amended; (26 U.S.C. 7325))

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