Ownership of Material and Property Management

Section 800 Section 800.340  Ownership of Material and Property Management All materials financed with State funds provided under the contract shall be owned by the recipient. In the event the recipient invoices the Department under Section 800.380 for materials prior to installation of said materials, the recipient shall not, for the period that such materials are held in inventory, sell, lease, assign, mortgage, or otherwise transfer its interest in the materials without prior written approval of the Department. Approval will be granted when the transfer is made subject to the State's security interest.