1. (a) The executive director will establish policies and procedures to determine adequate stock levels and inventory controls and for the management and disposition of Corporation-owned personal property and supplies.
2. (b) The appropriate Corporation officer will act on behalf of the Corporation in all matters pertaining to the disposition of surplus supplies. No employee of the Corporation will transfer or otherwise dispose of supplies owned by the Corporation without the express written authorization of the appropriate Corporation officer.
3. (c) The appropriate Corporation officer will offer surplus supplies through spot bids, competitive sealed bids, public auction, or other disposition methods.

4. (d) Unless otherwise governed by federal or other regulation, contractual or grant agreements, or other governing authority, the appropriate Corporation officer will publish notice of the sale of surplus supplies through competitive sealed bidding by at least one of the following methods:

   1. (1) publication in a newspaper of general circulation in the state;
   2. (2) publication in a newspaper of local circulation in the area pertinent to the sale; and
   3. (3) other appropriate media publication.
5. (e) An employee of the Corporation may not directly or indirectly purchase or conspire to purchase surplus supplies if the employee has been directly or indirectly involved in the acquisition, maintenance, preparation for sale, or disposal of the surplus item.
6. (f) The executive director may determine to dispose of surplus supplies of the Corporation by giving the surplus supplies to the state. A disposal under this subsection is not subject to the other requirements of this section.

(Eff. 5/7/93, Register 130)