NC S231

State agencies may petition the State Surplus Property Agency to use third-party auction services for selling surplus property, with petitions approved within 30 days unless the auction service has disciplinary issues, is debarred, or charges fees exceeding 8% of the final selling price

Items valued at $100 or more must have a minimum bid set at 25% of fair market value, and items must be listed at least three times before disposal

Agencies using third-party auctions are exempt from service charges assessed by the State Surplus Property Agency and may store items at their own facilities or third-party auction locations

Agencies must retain records of third-party auction sales for three years and submit annual reports to the Joint Legislative Oversight Committee on General Government detailing auction services used and funds received

The definition of "state-owned property" is expanded to include inventory, farm products, goods, consumer goods, and property rightfully seized or acquired by the State