10 USC 8866 - Mode of making sale

U.S Code last checked for updates: Nov 22, 2024

§ 8866.

Mode of making sale

(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.)

cite as: 10 USC 8866