[Code of Federal Regulations]

[Title 41, Volume 2]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 41CFR101-48.102-4]



[Page 203]

 

           TITLE 41--PUBLIC CONTRACTS AND PROPERTY MANAGEMENT

 

          CHAPTER 101--FEDERAL PROPERTY MANAGEMENT REGULATIONS

 

PART 101-48_UTILIZATION, DONATION, OR DISPOSAL OF ABANDONED AND 

FORFEITED PERSONAL PROPERTY--Table of Contents

 

    Subpart 101-48.1_Utilization of Abandoned and Forfeited Personal 

                                Property

 

Sec. 101-48.102-4  Proceeds.



    Reimbursement for official use by the finding agency or transfer for 

official use of abandoned or other unclaimed property shall be deposited 

in a special fund by the finding or transferor agency for a period of at 

least 3 years. A former owner may be reimbursed from the special fund, 

based upon a proper claim made to the finding or transferor agency and 

filed within 3 years from the date of vesting of title in the United 

States. Such reimbursement shall not exceed fair market value at the 

time title was vested in the United States, less the costs incident to 

the care and handling of such property as determined by the head of the 

agency concerned.