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2020 Utah Code
Title 11 - Cities, Counties, and Local Taxing Units
Chapter 54 - Local Government Sale of Procurement Item
Section 103 - Sale of previously purchased item -- Limitations.
Universal Citation: UT Code § 11-54-103 (2020)
Effective 5/10/2016
11-54-103. Sale of previously purchased item -- Limitations.
A local government entity that sells a procurement item to a buyback purchaser for an amount that exceeds the amount the local government entity paid for the procurement item:
Enacted by Chapter 180, 2016 General Session
11-54-103. Sale of previously purchased item -- Limitations.
A local government entity that sells a procurement item to a buyback purchaser for an amount that exceeds the amount the local government entity paid for the procurement item:
- (1) shall require the buyback purchaser to pay cash for the procurement item;
- (2) may not accept the excess repurchase amount in the form of a credit, discount, or other incentive on a future purchase that the local government entity makes from the buyback purchaser; and
- (3) may not use the excess repurchase amount to acquire an additional procurement item from the person who paid the excess repurchase amount.
Enacted by Chapter 180, 2016 General Session
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