§ 19-11-205 - Definitions concerning commodity management. - Arkansas Statutes

19-11-205. Definitions concerning commodity management.

As used in this subchapter:

(1) "Commodities" means, for purposes of this section, 19-11-242 and 19-11-243, commodities owned by the state. See 19-11-203, which refers to commodities;

(2) "Excess commodities" means any commodity, other than expendable commodities, having a remaining useful life but which the using agency in possession of the commodity has determined is no longer required by such agency;

(3) "Expendable commodities" means all tangible commodities other than nonexpendable commodities;

(4) "Nonexpendable commodities" means all tangible commodities having an original acquisition cost of more than two thousand five hundred dollars ($2,500) per unit and a useful life of more than one (1) year; and

(5) "Surplus commodities" means any commodities, other than expendable commodities, no longer having any use to the state. This definition includes obsolete commodities, scrap materials, and nonexpendable commodities that have completed their useful life cycle.