[Code of Federal Regulations]
[Title 26, Volume 18]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR403.30]

[Page 772-773]
 
                       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 C--Seizures and Forfeitures
 
Sec. 403.30  Special disposition of perishable goods.

    The proceedings to enforce forfeiture of perishable goods shall, as 
is the case with proceedings to enforce forfeiture of nonperishable 
goods, be in the nature of proceedings in rem in the United States 
District Court for the district wherein such seizure is made. When any 
seized property is liable to perish or become greatly reduced in price 
or value by keeping, or when it cannot be kept without great expense, 
the Commissioner or his delegate shall advise the owner, when known, of 
the seizure thereof. The owner of the seized property may apply to the 
District Director of the internal revenue district in which the property 
was seized to examine the property at any time prior to referral of the 
property to the U.S.

[[Page 773]]

Marshal for disposition. If, in the opinion of the Commissioner or his 
delegate it is necessary that such property be sold to prevent waste or 
expense, the Commissioner or his delegate shall cause the property to be 
appraised in accordance with the procedures set forth in 
Sec. 403.26(a)(2). The owner shall have such property returned to him 
upon giving a corporate surety bond pursuant to Sec. 403.28 in an amount 
equal to the appraised value of the property, to abide the final order, 
decree, or judgment of the court having cognizance of the case. The bond 
shall be conditioned to pay the amount of the appraised value to the 
Commissioner or his delegate, the U.S. Marshal, or otherwise, as may be 
ordered and directed by the court. The bond shall be filed by the 
Commissioner or his delegate with the U.S. Attorney for the district in 
which the proceedings may be commenced. If the owner of such property 
neglects or refuses to give such bond within a reasonable time 
considering the condition of the property, the Commissioner or his 
delegate shall request the U.S. Marshal to proceed to sell the property 
at public sale as soon as practicable and to pay the proceeds of sale, 
less reasonable costs of the seizure and sale, to the court to abide its 
final order, decree, or judgment.

(Sec. 7322, 7323, 7324, 68A Stat. 869, 870, as amended; (26 U.S.C. 7322, 
7323, 7324))