Home Table of Contents

§ 345.7. Sales to Employees.

12 CA ADC § 345.7Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 12. Military and Veterans Affairs
Division 2. Department of Veterans Affairs
Chapter 2. Veterans' Farm and Home Purchases
Subchapter 3. Contract and Other Terms
12 CCR § 345.7
§ 345.7. Sales to Employees.
Currentness
(a) The district office shall only accept offers from Department employees under the following conditions:
(1) The employee submits an offer that is for a higher dollar amount than all other acceptable offers received;
(2) The employee's financial status would not justify the denial of a loan under Section 309.1.
(b) The Department shall not consummate the sale of any repossessed property to an employee of the Department without the prior review of all acceptable offers and a sign-off by the Secretary, which shall occur within fourteen days of the receipt of the employee's application.

Credits

Note: Authority cited: Section 700, Military and Veterans Code. Reference: Sections 74, 985.2, 987.6, 987.51 and 987.78(a), Military and Veterans Code.
History
1. New section filed 11-12-91; operative 12-12-91 (Register 92, No. 7).
2. Change without regulatory effect amending subsection (b) and Note filed 12-2-96 pursuant to section 100, title 1, California Code of Regulations (Register 96, No. 49).
This database is current through 5/24/24 Register 2024, No. 21.
Cal. Admin. Code tit. 12, § 345.7, 12 CA ADC § 345.7
End of Document