§ 4-501 Definitions
§ 4-502 Declaration of excess personal property and surplus personal property
§ 4-503 Moving of property
§ 4-504 Disposal of property
§ 4-505 Proceeds from auction or sale
§ 4-506 Duties and power of Department
§ 4-507 Proceeds from trade-in
§ 4-508 Replacement of excess personal property

Terms Used In Maryland Code > STATE FINANCE AND PROCUREMENT > Division I > Title 4 > Subtitle 5 - Excess and Surplus Property

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Contract: A legal written agreement that becomes binding when signed.
  • including: means includes or including by way of illustration and not by way of limitation. See
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Personal property: All property that is not real property.
  • state: means :

    (1) a state, possession, territory, or commonwealth of the United States; or

    (2) the District of Columbia. See