§ 8866. Mode of making sale

290 words·~1 min read·/usc/title-10/section-8866

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)If a sale of prize property is ordered by the court, the marshal shall—

(1)prepare and circulate full catalogues and schedules of the property to be sold and return a copy of each to the court;

(2)advertise the sale fully and conspicuously by posters and in newspapers ordered by the court;

(3)give notice to the naval prize commissioner at least five days before the sale; and

(4)keep the goods open for inspection for at least three days before the sale.

(b)An auctioneer of known skill in the business to which the sale pertains shall be employed by the Secretary of the Navy to make the sale. The auctioneer, or his agent, shall collect and deposit the gross proceeds of the sale. The auctioneer and his agent are responsible to the marshal for the conduct of the sale and the collection and deposit of the gross proceeds.

(Aug. 10, 1956, ch. 1041, 70A Stat. 479, § 7666; renumbered § 8866, Pub. L. 115–232, div. A, title VIII, § 807(d)(9), Aug. 13, 2018, 132 Stat. 1837.)

The statement in subsection

(b)of the responsibility of the auctioneer and agent to the marshal in the collection and deposit of proceeds is inserted to clarify the marshal’s functions. It is derived from 34 U.S.C. 1139, and appears in § 7662 of this title.

Connectionstraces to 2

Traces to 2 documents

public-private-law