41 C.F.R. § 102-37.255 Must a SASP insure surplus property against loss or damage?
Title 41 - Public Contracts and Property Management
No, you are not required to carry insurance on Federal surplus property in your custody. However, if you elect to carry insurance and the insured property is lost or damaged, you must submit a check made payable to GSA for any insurance proceeds received in excess of your actual costs of acquiring and rehabilitating the property prior to its loss, damage, or destruction.
Title 41: Public Contracts and Property Management
PART 102–37—DONATION OF SURPLUS PERSONAL PROPERTY
Subpart D—State Agency for Surplus Property (SASP)
Custody, Care, and Safekeeping
§ 102-37.255 Must a SASP insure surplus property against loss or damage?
