documents in the last year, 249 In the absence of quotes, the description should explain what circumstances prevented the recipient from obtaining quotes.
Legal Services Corporation (LSC) is an independent nonprofit established by Congress in 1974 to provide financial support for civil legal aid to low-income Americans. Section 2(i) sets forth a proposed definition of real property taken from the definition of the same term in OMB Circular A-110. (f) If a recipient uses real property acquired in whole or in part with LSC funds to provide space to another organization which engages in activity restricted by the LSC Act, regulations, or other applicable law, the recipient shall charge the other organization an amount of rent which shall not be less than that which private non-profit organizations in the same locality charge for the same amount of space under similar conditions. This table of contents is a navigational tool, processed from the
For prior acquisitions of personal property, the 1981 Property Manual will control.
(c) Recipients shall conduct an analysis of the average annual cost of the acquisition, including the costs of a down payment, interest and principal payments on debt acquired to finance the acquisition, closing costs, renovation costs, and the costs of utilities, maintenance, and taxes, where applicable. Preferred, on the ~$45 billion merger of its Nutrition &, Biosciences business via a Reverse Morris Trust with IFF, on its ~$55 billion merger with Raytheon and simultaneous spin-offs of Carrier, OTIS, in connection with the
By contrast, in this case Abensons were not retained by LSC but by Mr and Mrs Boddice.
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Finally, this section makes clear that LSC proposes to apply the requirements of the PAMM to purchases made on or after the PAMM's effective date as published in the Federal Register. (d) Recipients shall not dispose of items of personal property by sale, donation or other transfer of the property to the recipients' board members and employees. As Mr Abenson accepted, he was concerned about the transfer of the property back into Mrs Boddice's sole name. 8 Documentation and Recordkeeping Requirements. 09/30/2020, 198
For purchases of real property prior to the PAMM's effective date, the written agreement between the program and LSC will control. 7 Disposal of Real Property Acquired with LSC Funds.
(j) Source means a supplier, vendor, or contractor who has agreed to provide property to a recipient through a purchase or lease agreement. (f) Property means any real or personal property having a market value greater than $1,000 and a useful life of more than one year. (c) During the term of an LSC grant or contract, recipients may dispose of items of personal property purchased with LSC funds by: (1) Trading in the property at the time of acquiring replacement property; (2) Selling the property at a reasonable negotiated price, without advertising for quotes, where the property item has a current fair market value not exceeding $15,000; (3) Selling the property after having advertised for and received quotes, where the current fair market value of the property item exceeds $15,000; (4) Transferring the property to another recipient of LSC funds; or.
Disposition of items not meeting the $1000 value threshold would not be considered property subject to the PAMM and, therefore, would not be subject to this restriction.
However, in conformance with longstanding LSC policy, recipients creating or otherwise obtaining copyrightable materials with LSC funds would have to provide LSC free access to and use of such materials, including the right to make such materials available to other LSC recipients. See 51 FR 29082, August 13, 1986.
Section 8 contains proposed requirements for the documentation of property acquisitions and disposals.
[4]
To avoid potential confusion, LSC proposes to use the more accurate “LSC property interest agreement.”. informational resource until the Administrative Committee of the Federal Looking for online definition of LSC or what LSC stands for? LSC further proposes to allow a recipient to lease space to others or otherwise allow the use of its property for restricted activities, provided that the recipient charges a fair market price for such lease or property use.
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