26 U.S.C. § 7325 — Personal property valued at $100,000 or

Page 3869 TITLE 26—INTERNAL REVENUE CODE [§ 7326 Pub. L. 85–866, title I, § 78, Sept. 2, 1958, 72 Stat. 1662; Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.) Editorial Notes AMENDMENTS 1976—Pars. (1) to (4). Pub. L. 94–455 struck out ‘‘or his delegate’’ after ‘‘Secretary’’ wherever appearing. 1958—Par. (3). Pub. L. 85–866 struck out ‘‘district’’ be- fore ‘‘attorney’’. Pub. L. 85–859 included property seized under section 7302 of this title. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1958 AMENDMENTS Amendment by Pub. L. 85–866 effective Aug. 17, 1954, see section 1(c)(2) of Pub. L. 85–866, set out as a note under section 165 of this title. Amendment by Pub. L. 85–859 effective Sept. 3, 1958, see section 210(a)(1) of Pub. L. 85–859, set out as an Ef- fective Date note under section 5001 of this title. § 7325. Personal property valued at $100,000 or less In all cases of seizure of any goods, wares, or merchandise as being subject to forfeiture under any provision of this title which, in the opinion of the Secretary, are of the appraised value of $100,000 or less, the Secretary shall, except in cases otherwise provided, proceed as follows: (1) List and appraisement The Secretary shall cause a list containing a particular description of the goods, wares, or merchandise seized to be prepared in dupli- cate, and an appraisement thereof to be made by three sworn appraisers, to be selected by the Secretary who shall be respectable and disinterested citizens of the United States re- siding within the internal revenue district wherein the seizure was made. Such list and appraisement shall be properly attested by the Secretary and such appraisers. Each appraiser shall be allowed for his services such com- pensation as the Secretary shall by regula- tions prescribe, to be paid in the manner simi- lar to that provided for other necessary charges incurred in collecting internal rev- enue. (2) Notice of seizure If such goods are found by such appraisers to be of the value of $100,000 or less, the Sec- retary shall publish a notice for 3 weeks, in some newspaper of the district where the sei- zure was made, describing the articles and stating the time, place, and cause of their sei- zure, and requiring any person claiming them to appear and make such claim within 30 days from the date of the first publication of such notice. (3) Execution of bond by claimant Any person claiming the goods, wares, or merchandise so seized, within the time speci- fied in the notice, may file with the Secretary a claim, stating his interest in the articles seized, and may execute a bond to the United States in the penal sum of $2,500, conditioned that, in case of condemnation of the articles so seized, the obligors shall pay all the costs and expenses of the proceedings to obtain such condemnation; and upon the delivery of such bond to the Secretary, he shall transmit the same, with the duplicate list or description of the goods seized, to the United States attor- ney for the district, and such attorney shall proceed thereon in the ordinary manner pre- scribed by law. (4) Sale in absence of bond If no claim is interposed and no bond is given within the time above specified, the Sec- retary shall give reasonable notice of the sale of the goods, wares, or merchandise by publi- cation, and, at the time and place specified in the notice, shall, unless otherwise provided by law, sell the articles so seized at public auc- tion, or upon competitive bids, in accordance with such regulations as may be prescribed by the Secretary. (Aug. 16, 1954, ch. 736, 68A Stat. 870; Pub. L. 85–859, title II, § 204(10), (12), Sept. 2, 1958, 72 Stat. 1429; Pub. L. 85–866, title I, § 78, Sept. 2, 1958, 72 Stat. 1662; Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 99–514, title XV, § 1566(a), (b), Oct. 22, 1986, 100 Stat. 2763.) Editorial Notes AMENDMENTS 1986—Pub. L. 99–514 substituted ‘‘$100,000’’ for ‘‘$2,500’’ in section catchline, introductory provisions, and par. (2), and substituted ‘‘$2,500’’ for ‘‘$250’’ in par. (3). 1976—Pub. L. 94–455 struck out ‘‘or his delegate’’ after ‘‘Secretary’’ wherever appearing. 1958—Pub. L. 85–866 struck out ‘‘district’’ before ‘‘at- torney’’ in par. (3). Pub. L. 85–859 substituted ‘‘$2,500’’ for ‘‘$1,000’’ in sec- tion catchline, opening par., and par. (2), and inserted ‘‘, unless otherwise provided by law,’’ before ‘‘sell the articles’’ in par. (4). Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1986 AMENDMENT Pub. L. 99–514, title XV, § 1566(e), Oct. 22, 1986, 100 Stat. 2763, provided that: ‘‘The amendments made by this section [amending this section and section 7103 of this title] shall take effect on the date of the enact- ment of this Act [Oct. 22, 1986].’’ EFFECTIVE DATE OF 1958 AMENDMENTS Amendment by Pub. L. 85–866 effective Aug. 17, 1954, see section 1(c)(2) of Pub. L. 85–866, set out as a note under section 165 of this title. Amendment by Pub. L. 85–859 effective Sept. 3, 1958, see section 210(a)(1) of Pub. L. 85–859, set out as an Ef- fective Date note under section 5001 of this title. [§ 7326. Repealed. Pub. L. 115–141, div. U, title IV, § 401(b)(50), Mar. 23, 2018, 132 Stat. 1205] Section, act Aug. 16, 1954, ch. 736, 68A Stat. 871; Pub. L. 85–859, title II, § 204(13), Sept. 2, 1958, 72 Stat. 1429; Pub. L. 89–44, title VI, § 601(j), June 21, 1965, 79 Stat. 155; Pub. L. 91–513, title III, § 1102(f), Oct. 27, 1970, 84 Stat. 1292; Pub. L. 94–455, title XIX, §§ 1906(a)(43), (b)(13)(A), Oct. 4, 1976, 90 Stat. 1830, 1834, related to disposal of cer- tain forfeited property. Statutory Notes and Related Subsidiaries SAVINGS PROVISION For provisions that nothing in repeal by Pub. L. 115–141 be construed to affect treatment of certain