11-54-103. Sale of previously purchased item -- Limitations.
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/ut/title-11/chapter-54/11-54-103A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/10/2016
11-54-103. Sale of previously purchased item -- Limitations.
A local government entity that sells a procurement item to a buyback purchaser for an amount that exceeds the amount the local government entity paid for the procurement item:
(1)shall require the buyback purchaser to pay cash for the procurement item;
(2)may not accept the excess repurchase amount in the form of a credit, discount, or other incentive on a future purchase that the local government entity makes from the buyback purchaser; and
(3)may not use the excess repurchase amount to acquire an additional procurement item from the person who paid the excess repurchase amount.
Enacted by Chapter 180 , 2016 General Session