625.41 Standards for measuring the condition of capital assets.§ 625.41 Standards for measuring the condition of capital assets.
A capital asset is in a state of good repair if it meets the following objective standards -
(a) The capital asset is able to perform its designed function;
(b) The use of the asset in its current condition does not pose an identified unacceptable safety risk; and
(c) The life-cycle investment needs of the asset have been met or recovered, including all scheduled maintenance, rehabilitation, and replacements.