- (a) For each repossessed CalVet property, a “for sale” advertisement shall appear in local newspapers covering the area where the property is located. CalVet's advertisement shall appear in the newspapers for a period of at least fourteen days. The advertisement shall specify the location of the property, a brief description, its estimated value, and shall summarize the procedures for a potential buyer to purchase or submit a bid on the property and the qualifications the potential buyer is required to meet as well as the deadline date for “sealed offer” (bid) submission.
- (b) A “For Sale” sign shall demarcate the CalVet property unless, in the opinion of the Home Loan Division, to do so would subject the property to vandalism.
- (c) Local veterans organizations shall receive information on repossessed properties offered for sale if these organizations have previously submitted, to the Home Loan Division, a written request for such information.
- (d) In order to continue receiving repossessed property information from the Home Loan Division, veterans organizations shall renew their request each year by submitting a letter to CalVet's Home Loan Division.
Note: Authority cited: Section 700, Military and Veterans Code. Reference: Sections 985.2, 987.6, 987.51, 987.78(a) and 987.78(b), 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 repealing subsection (f) filed 4-28-98 pursuant to section 100, title 1, California Code of Regulations (Register 98, No. 18).
3. Amendment filed 3-24-2026; operative 7-1-2026 (Register 2026, No. 13).