When is a Class V property considered "serviceable"?

A Class V property is deemed "serviceable" when it meets all operational standards and can be utilized effectively. This designation indicates that the property is in good condition and is functioning as intended, ready to support the operational needs it was intended for. Serviceability implies that all necessary checks and balances have been met, ensuring that the asset can be effectively deployed without issues that might compromise its performance or safety.

The focus here is on the operational readiness and capability of the property, rather than merely its physical storage, documentation, or potential for sale. While storing items securely or having them inspected and documented are important aspects of inventory management, they do not directly determine whether the property can be actively used. Similarly, readiness for immediate sale reflects a different context that does not equate to the assessment of serviceability in operational terms.