12-2-411 - Disposition of proceeds. - Tennessee Statutes

12-2-411. Disposition of proceeds.

The proceeds from the disposal of property under this part shall be remitted to the department releasing such property. The commissioner shall charge the releasing department a reasonable fee to cover the cost of disposition of the property, except where the releasing department is authorized pursuant to § 12-2-410 to serve as the agent for disposal. The method of determining such fee shall be governed by regulations of the board.

[Acts 1976, ch. 821, § 11; T.C.A., § 12-245.]