[Code of Federal Regulations]
[Title 38, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 38CFR12.10]

[Page 555]
 
            TITLE 38--PENSIONS, BONUSES, AND VETERANS' RELIEF
 
                CHAPTER I--DEPARTMENT OF VETERANS AFFAIRS
 
PART 12_DISPOSITION OF VETERAN'S PERSONAL FUNDS AND 
 
Sec. 12.10  Proceeds of sale.

    After proper notice as prescribed, sale of any such property which 
it is proper to sell, will be made by public auction by the manager (or 
any employee designated by him or her) at the time and place stated in 
the notice of sale. The property will be sold to the highest bidder (no 
employee except member employees of the Department of Veterans Affairs 
shall purchase any of this property) and forthwith delivered and the 
amount of the bid collected and deposited to the credit of ``General 
Post Fund, Department of Veterans Affairs.'' Care will be taken to 
segregate the property of each owner and separate account will be 
maintained as to the proceeds of sale thereof. Property not disposed of 
by public auction will be included in the next sale or will be used or 
destroyed as the value thereof warrants at the discretion of the 
manager.

[13 FR 7130, Nov. 27, 1948]